Glean Raises $100M to Unify Search Across Enterprise Apps
A little over half a year after coming out of stealth mode, the CEO of Glean announced the search experience company has secured a $100 million Series C funding round, led by investment firm Sequoia Capital. This latest funding round values the company at $1 billion during a period when many startups are being hit hard by a downturn in the tech economy.
The Palo Alto, Calif.-based company's mission is to provide a consistent search experience that spans all of an organization's applications and makes it easier for workers to locate the information they need to carry out their tasks. The company says its unified search experience can save employees two to three hours per week by tailoring search outcomes based on awareness of who the employee is, what they are working on, and who they are working with.
Unifying Search Across Enterprise Applications
Glean operates as a layer on top of other software applications to allow end users to search and find the information they need across their enterprise apps. It can also be used to run data loss prevention reports to detect when sensitive material has been shared or potentially exposed, as well as automate e-discovery across business documents to aid with CCPA and GDPR compliance.
Employees are clamoring for a simpler method to access the information and people they need to accomplish their job in today's more complicated and fragmented workplace, where dispersed work is increasing and firms are deploying an ever rising variety of SaaS applications, according to Arvind Jain, Glean founder and CEO.
“Ultimately, our mission is to empower people with the knowledge they need to make a difference in the world," Jain told Reworked. "We envision a world where everyone everywhere, regardless of their title or role, can 'glean' exactly the information they need to make progress and do big things.”
According to a survey of 1,043 workers conducted by Glean with The Harris Poll, workers spend a quarter of their work time looking for documents, information or people to do their job. This experience leads to frustration, with 43% of workers saying they would consider quitting if their employers don't provide a more efficient way to access information.
The continued growth and sprawl of software-as-a-service (SaaS) tools and the rise of flexible and hybrid working are continuing to drive the need for better search, according to Glean. These trends require companies to come up with a longer-term strategy for supporting a distributed team that includes technology and tools employees need to work most efficiently and productively.
According to company executives, Glean is just beginning to see the impacts of long-term hybrid work settings, and growing need to protect and share institutional knowledge within the organization.
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Glean's Plans for the New Funding
This Series C marks Glean’s third round of funding, and comes after the company launched out of stealth with $55 million in funding in September 2021. According to Crunchbase, the company's total funding amount so far is $155 million.
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Glean plans to use the new funding to expand the company's staff as it continues to develop the core product, add new features and build a go-to-market strategy.
“We have more than 100 employees today, and expect to have more than 250 worldwide by the end of this year," Jain said. "The funding came at a great time, as we’re excited to leverage it to expand our team across all functions."
Jain told Reworked that Glean will continue rapidly scaling their team and product to meet the strong demand they’re seeing in the market. This will involve continuing to invest heavily in their core search product, and will also involve new feature innovation to meet the needs of customers.
Recent product features include enhanced knowledge management and a central work hub. Knowledge management features include:
- The ability to find answers to commonly asked questions more quickly, and avoiding copying and pasting or rewriting identical responses for each individual.
Organization of a collection of links, descriptions of them, and ability to distribute the whole package to the rest of the company.
Ability to create and share short links that make it easier to locate common resources. For example, instead of looking for a lengthy URL, users can create links such as go/benefits or go/pitchdeck.
With the new work hub, Glean customers can share and discover important news with announcement features, search with a people directory to understand who people are, what they’re working on, and how they can help, and access and maintain a single source of truth for company resources like employee handbooks, expense policies, company OKRs and KPI dashboards.
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