Latest news with #Glean
Reuters
4 days ago
- Business
- Reuters
Equipment maintenance startup MaintainX valued at $2.5 billion in latest fundraise
July 9 (Reuters) - MaintainX more than doubled its valuation to $2.5 billion in its latest fundraising round, the equipment maintenance startup said on Wednesday, as startups that combine artificial intelligence with physical operations continue to attract investor interest. The company raised $150 million in the 'Series D' round, bringing its total external funding to $254 million, following a trend among mature startups to remain private-for-longer amid choppy IPO market conditions. Its previous funding round in December 2023 had valued the company at $1 billion. While AI startups still attract most venture capital funding, investors are now also looking for sector-specific tools that help companies boost efficiency by cutting downtime and labor costs. Last month, enterprise AI search startup Glean also raised $150 million at a $7.2 billion valuation in its third capital raise in less than two years. "The common thread is that investors want AI tied to mission-critical enterprise and industrial workflows," said Michael Ashley Schulman, partner at Running Point Capital Advisors. MaintainX, founded in 2018, provides a cloud-based maintenance and operations platform that helps automate day-to-day tasks like inspections and safety procedures. The company claims its customers have reduced unplanned downtime by 34% and saved 32% in monthly maintenance costs. The new capital will be used to develop MaintainX's AI and machine health monitoring capabilities, aiming to replace a widely used manual approach. The San Francisco, California-based company serves over 11,000 companies worldwide, including McDonald's (MCD.N), opens new tab, Anheuser-Busch InBev ( opens new tab and Dutch Bros Coffee (BROS.N), opens new tab . The round saw participation from existing investors Bessemer Venture Partners and Bain Capital, who have also led previous funding for the company. Early backers Amity Ventures and August Capital also participated.
TechCrunch
18-06-2025
- Business
- TechCrunch
Here are the 24 US AI startups that have raised $100M or more in 2025
Last year was monumental for the AI industry in the U.S. and beyond. There were 49 startups that raised funding rounds worth $100 million or more in 2024, per our count at TechCrunch; three companies raised more than one 'megaround,' and seven companies raised rounds $1 billion in size or larger. How will 2025 compare? It's still the first half of the year, but so far it looks like 2024's momentum will continue this year. There have already been multiple billion-dollar rounds this year, and more AI megarounds closed in the U.S. in Q1 2025 compared to Q1 2024. Here are all the U.S. AI companies that have raised $100 million this year: June Enterprise search startup Glean continues to rake in cash. The company announced a $150 million Series F round on June 10, led by Wellington Management with participation from Sequoia, Lightspeed Venture Partners, and Kleiner Perkins, among others. Glean is now valued at $7.25 billion. continues to rake in cash. The company announced a $150 million Series F round on June 10, led by Wellington Management with participation from Sequoia, Lightspeed Venture Partners, and Kleiner Perkins, among others. Glean is now valued at $7.25 billion. Anysphere, the AI research lab behind AI coding tool Cursor, raised a sizable $900 million Series C round that values the company at nearly $10 billion. The round was led by Thrive Capital with participation from Andreessen Horowitz, Accel, and DST Global. May AI data labeling startup Snorkel AI announced a $100 million Series D round on May 29, valuing the company at $1.3 billion. The round was led by Addition with participation from Prosperity7 Ventures, Lightspeed Venture Partners, and Greylock. announced a $100 million Series D round on May 29, valuing the company at $1.3 billion. The round was led by Addition with participation from Prosperity7 Ventures, Lightspeed Venture Partners, and Greylock. LMArena , a popular, community-driven benchmarking tool for AI models, raised a $100 million seed round that valued the startup at $600 million. The round was announced on May 21 and was co-led by Andreessen Horowitz and UC Investments. Lightspeed Venture Partners, Kleiner Perkins, and Felicis also participated, among others. , a popular, community-driven benchmarking tool for AI models, raised a $100 million seed round that valued the startup at $600 million. The round was announced on May 21 and was co-led by Andreessen Horowitz and UC Investments. Lightspeed Venture Partners, Kleiner Perkins, and Felicis also participated, among others. Las Vegas-based AI infrastructure company TensorWave announced a $100 million Series A round on May 14. The round was co-led by Magnetar Capital and AMD Ventures with participation from Prosperity7 Ventures, Nexus Venture Partners, and Maverick Silicon. April SandboxAQ closed a $450 million Series E round on April 4 that valued the AI model company at $5.7 billion. The round included Nvidia, Google, and Bridgewater Associates founder Ray Dalio among other investors. closed a $450 million Series E round on April 4 that valued the AI model company at $5.7 billion. The round included Nvidia, Google, and Bridgewater Associates founder Ray Dalio among other investors. Runway, which creates AI models for media production, raised a $308 million Series D round that was announced on April 3, valuing the company at $3 billion. It was led by General Atlantic. SoftBank, Nvidia, and Fidelity also participated. March February Together AI , which creates open source generative AI and AI model development infrastructure, raised a $305 million Series B round that valued the company at $3.3 billion. The February 20 round was co-led by Prosperity7 and General Catalyst with participation from Salesforce Ventures, Nvidia, Lux Capital, and others. , which creates open source generative AI and AI model development infrastructure, raised a $305 million Series B round that valued the company at $3.3 billion. The February 20 round was co-led by Prosperity7 and General Catalyst with participation from Salesforce Ventures, Nvidia, Lux Capital, and others. AI infrastructure company Lambda raised a $480 million Series D round that was announced on February 19. The round valued the startup at nearly $2.5 billion and was co-led by SGW and Andra Capital. Nvidia, G Squared, ARK Invest, and others also participated. raised a $480 million Series D round that was announced on February 19. The round valued the startup at nearly $2.5 billion and was co-led by SGW and Andra Capital. Nvidia, G Squared, ARK Invest, and others also participated. Abridge , an AI platform that transcribes patient-clinician conversations, was valued at $2.75 billion in a Series D round that was announced on February 17. The $250 million round was co-led by IVP and Elad Gil. Lightspeed, Redpoint, and Spark Capital also participated, among others. , an AI platform that transcribes patient-clinician conversations, was valued at $2.75 billion in a Series D round that was announced on February 17. The $250 million round was co-led by IVP and Elad Gil. Lightspeed, Redpoint, and Spark Capital also participated, among others. Eudia , an AI legal tech company, raised $105 million in a Series A round led by General Catalyst. Floodgate, Defy Ventures, and Everywhere Ventures also participated in the round in addition to other VC firms and numerous angel investors. The round closed on February 13. , an AI legal tech company, raised $105 million in a Series A round led by General Catalyst. Floodgate, Defy Ventures, and Everywhere Ventures also participated in the round in addition to other VC firms and numerous angel investors. The round closed on February 13. AI hardware startup EnCharge AI raised a $100 million Series B round that also closed on February 13. The round was led by Tiger Global with participation from Scout Ventures, Samsung Ventures, and RTX Ventures, among others. The Santa Clara-based business was founded in 2022. raised a $100 million Series B round that also closed on February 13. The round was led by Tiger Global with participation from Scout Ventures, Samsung Ventures, and RTX Ventures, among others. The Santa Clara-based business was founded in 2022. AI legal tech company Harvey raised a $300 million Series D round that valued the 3-year-old company at $3 billion. The round was led by Sequoia and announced on February 12. OpenAI Startup Fund, Kleiner Perkins, Elad Gil, and others also participated in the raise. January Synthetic voice startup ElevenLabs raised a $180 million Series C round that valued the company at more than $3 billion. It was announced on January 30. The round was co-led by ICONIQ Growth and Andreessen Horowitz. Sequoia, NEA, Salesforce Ventures, and others also participated in the round. raised a $180 million Series C round that valued the company at more than $3 billion. It was announced on January 30. The round was co-led by ICONIQ Growth and Andreessen Horowitz. Sequoia, NEA, Salesforce Ventures, and others also participated in the round. Hippocratic AI, which develops large language models for the healthcare industry, announced a $141 million Series B round on January 9. This round valued the company at more than $1.6 billion and was led by Kleiner Perkins. Andreessen Horowitz, Nvidia, and General Catalyst also participated, among others. This piece was updated on April 23 and June 18 to include more deals. This piece has been updated to remove that Abridge is based in Pittsburgh; the company was founded there.
Time of India
11-06-2025
- Business
- Time of India
AI company Glean hits $7.2 billion in valuation in latest funding round
Glean said on Tuesday it was valued at $7.2 billion in its latest funding round - the third capital raise for the U.S. enterprise AI search startup in less than two years. The round marks a nearly 57% jump in valuation for Glean, underscoring strong investor appetite for startups leveraging AI use cases. In the previous funding in September, the company's valuation had more than doubled in just over six months. Businesses and governments worldwide are rushing to adopt artificial intelligence, with applications ranging from enterprise productivity and drug discovery to infrastructure and beyond. Palo Alto, California-based Glean raised $150 million in the funding round led by asset manager Wellington Management. Startups are choosing to stay private for longer, raising larger funds in late-stage rounds, as public market recovery remains slow. "Founders avoid the volatility of public markets and employees receive secondary-market liquidity via structured rounds," said Michael Ashley Schulman, partner at Running Point Capital Advisors. Glean, which surpassed $100 million in annual recurring revenue in its last fiscal year, was founded in 2019 by a team of former Google search engineers. It uses AI assistants and large language models to generate personalized answers to queries. According to Schulman, Glean's 72x valuation multiple on revenue is "punchy", but investors are getting "early access to a franchise" since the company is cash-flow positive. Earlier this year, the company rolled out its Glean Agents offering, which allows businesses to use AI to automate operations. It is on track to support 1 billion agent actions by the end of 2025, the company said. Industry leaders have hailed AI-based agents as a transformative-use case of the technology. Microsoft CEO Satya Nadella has also suggested that the agents will disrupt how we use software-as-a-service, a business model that has long been the staple of software startups.
Tahawul Tech
11-06-2025
- Business
- Tahawul Tech
Salesforce blocks AI rivals using data from Slack app
Slack, a Salesforce workplace messaging app, recently blocked other software firms from searching or storing Slack messages reported online publication, The Information. A spokesperson for Salesforce said the company had recently made changes to its terms and services. 'As AI raises critical considerations around how customer data is handled, we're committed to delivering AI and data services in a way that's thoughtful and transparent,' the spokesperson said. Salesforce in a recent statement said it was 'reinforcing safeguards around how data accessed via Slack APIs can be stored, used, and shared.' An API, or application programming interface, enables standardised communication, exchange of data and functionality between different software components or applications. Since the Salesforce change, Glean and other applications can no longer index, copy or store the data they access via the Slack API on a long-term basis, according to The Information. Glean said the changes will prevent customers from adding Slack data to their Glean search index thereby 'hampering your ability to use your data with your chosen enterprise AI platform,' according to the report, which cited an email for Glean customers. AI firms have come under increased scrutiny over their handling of personal and customer data for training AI models. Source: Reuters Image Credit: Salesforce/Stock Image
CNA
10-06-2025
- Business
- CNA
Search startup Glean's valuation hits $7.2 billion in AI funding boom
Glean said on Tuesday it was valued at $7.2 billion in its latest funding round - the third capital raise for the U.S. enterprise AI search startup in less than two years. The round marks a nearly 57 per cent jump in valuation for Glean, underscoring strong investor appetite for startups leveraging AI use cases. In the previous funding in September, the company's valuation had more than doubled in just over six months. Businesses and governments worldwide are rushing to adopt artificial intelligence, with applications ranging from enterprise productivity and drug discovery to infrastructure and beyond. Palo Alto, California-based Glean raised $150 million in the funding round led by asset manager Wellington Management. Startups are choosing to stay private for longer, raising larger funds in late-stage rounds, as public market recovery remains slow. "Founders avoid the volatility of public markets and employees receive secondary-market liquidity via structured rounds," said Michael Ashley Schulman, partner at Running Point Capital Advisors. Glean, which surpassed $100 million in annual recurring revenue in its last fiscal year, was founded in 2019 by a team of former Google search engineers. It uses AI assistants and large language models to generate personalized answers to queries. According to Schulman, Glean's 72x valuation multiple on revenue is "punchy", but investors are getting "early access to a franchise" since the company is cash-flow positive. Earlier this year, the company rolled out its Glean Agents offering, which allows businesses to use AI to automate operations. It is on track to support 1 billion agent actions by the end of 2025, the company said. Industry leaders have hailed AI-based agents as a transformative-use case of the technology. Microsoft CEO Satya Nadella has also suggested that the agents will disrupt how we use software-as-a-service, a business model that has long been the staple of software startups.
