AI-Powered Work Assistant Glean Grabs $200M At $2.2B Valuation

Despite some predictions about a slowdown in AI investing, investors are showing the same insatiable appetite for the sector they showed last year.

AI-enhanced work assistant and enterprise search startup became the latest to hit it big, locking up a more than $200 million Series D at a $2.2 billion valuation in a round led by and .

The Palo Alto, California-based startup hit unicorn status last May after raising a $100 million Series C led by .

The new round also included participation from existing investors Sequoia; new investors , , , and ; and strategic investors , , and .

Enterprise AI

Glean鈥檚 generative AI search tool connects with enterprise companies’ applications and databases, while also offering conversational AI assistants to help employees work.

The startup has nearly quadrupled its annual recurring revenue in the past year.

鈥淲e are at the beginning of one of the biggest transformations in technology; generative AI is an incredibly powerful technology that will unleash productivity and new efficiencies, but it must be applied in the right ways to be useful and safe in the enterprise,鈥� said , co-founder and CEO of Glean.

The round is just the latest giant AI-related raise as last year鈥檚 investor euphoria has clearly carried over to this year. Just last week it was China鈥檚 artificial intelligence startup raised more than $1 billion in a funding round led by and HongShan, formerly .

In addition, Sunnyvale, California-based AI and robotics startup raised a huge $675 million round at a pre-money valuation of roughly $2 billion. Big-name investors in the round include 鈥� and among others.

Founded in 2019, Glean has raised $360 million, per the company.