Glean at $100M ARR

TL;DR: In 2019, Glean launched their NLP search engine for apps and documents—propelled by the rise of LLMs, Sacra estimates Glean hit $100M annual recurring revenue (ARR) in November, growing 203% YoY. Now, pre-AI companies like Zapier and Airtable and AI-native companies like Glean,Hebbia and Writer are converging on the vision of an arbitrary app builder for the enterprise. For more, check out our full report and dataset on Glean.

Key points via Sacra AI:

In the days before LLMs, Glean (2019) used natural language processing (NLP) to return the most semantically relevant documents, chat threads, and emails across all of the customer’s SaaS apps in response to questions like “What are our Q4 targets?”—growing to $10M annual recurring revenue (ARR) by the end of 2022. Pricing per seat, Glean plans start at ~$30K/year, scaling up to over $5M/year for Fortune 500 companies with thousands of seats.
As LLMs unlocked the ability not just to retrieve data but summarize it, chat with it, and generate content from it, Glean rode the AI wave with Glean Assistant, their chat-based copilot plugged into your proprietary internal data, driving a major acceleration to 290% YoY growth and $40M ARR. Sacra estimates that Glean hit $100M ARR in November 2024, up 203% YoY, valued at $4.6B for a 46x revenue multiple—they’re the leaders of a now-hot category that includes Writer at $47M ARR, up 200% YoY, valued at $1.9B for a 40x revenue multiple, Hebbia at $13M ARR as of June 2024, up 160% YoY, valued at $700M for a 54x revenue multiple and Sana AI at $20M ARR, up 300%, valued at $500M for a 25x revenue multiple.
A battle royale to own enterprise AI is emerging between AI-centric startups Glean, Writer and Hebbia, pre-AI productivity, app building & automation startups like Zapier ($310M ARR, up 35% YoY), Airtable ($375M ARR, up 50% YoY) and Notion ($250M revenue in 2023) and large public companies like Gemini for Google Workspace, Microsoft Copilot and Dropbox Dash. While Google with Gemini, Microsoft with GPT* and Writer with Palmyra vertically integrate their own LLM with the app layer, Glean, Zapier and Dropbox Dash use a compound AI approach with multiple LLMs.

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