Glean AI Acquisition, Valuation, Funding & Investors

Glean AI was acquired by Pipe for $2B in April 2025, a 9.6x multiple on $208M of revenue.

Glean AI acquisition price

$2B

Acquired by Pipe · Apr 2025

Glean AI revenue at acquisition

$208M

Last twelve months · Apr 2025

Glean AI revenue multiple at acquisition

9.6x

EV/Revenue · Apr 2025

Cumulative funding Glean AI raised

$11M

across 2 funding rounds

Glean AI Overview

About Glean AI

Glean AI is a New York-based spend management platform using AI for expense analysis in small and mid-market companies. The tool scans receipts and transactions to identify savings opportunities at line-item levels across categories like travel and SaaS subscriptions. Integrated with QuickBooks and Expensify, it generates reports highlighting overspend patterns for finance teams.


Founded

2020

HQ

United StatesNew York City, NY

Website

glean.ai

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$208M (Apr 2025)

Valuation

$2B (acquired Apr 2025)

Glean AI Acquisition

Glean AI was acquired by Pipe for $2B on 15 April 2025.

The acquisition price implies a 9.6x revenue multiple on $208M of revenue.

Before the acquisition Glean AI had raised $11M across 2 funding rounds.

Glean.ai, a New York-based AI-powered spend management platform founded in 2020 by former OnDeck CFO Howard Katzenberg, provides SMBs with one-click access to spending trends, billing errors, savings opportunities, real-time budgeting, and bill pay tools that analyze patterns for data-driven decisions. Pipe, a San Francisco-headquartered embedded finance solutions provider specializing in capital access, business charge cards, and fraud prevention integrated into software platforms like Housecall Pro, Boulevard, and GoDaddy, announced its strategic acquisition of Glean.ai on April 15, 2025. The deal, structured as an all-stock transaction valuing Pipe at $2 billion—matching its prior funding round—aims to address SMB pain points of capital access and spend management by combining Pipe's embedded financing with Glean.ai's SaaS revenue model, while Glean.ai operates as a standalone product available directly to customers. Pipe CEO Luke Voiles described the acquisition as empowering SMBs with unified tools for sustainable growth and operational oversight, noting the gap in spend management for small businesses reliant on personal credit cards, unlike enterprise solutions from Brex and Ramp. Glean.ai CEO Howard Katzenberg highlighted Pipe's shared vision for intelligent finance infrastructure, following competitive talks that accelerated in February 2025 after initial outreach the prior fall. Pipe plans to embed Glean.ai's free-then-subscription spend tools into partner platforms, enabling cross-selling of merchant cash advances and charge cards to Glean.ai users, with recent funding including a $100 million Victory Park Capital facility supporting expansion.

Glean AI acquisition details
AcquirerDateTypePriceEV/Revenue
15 Apr 2025Strategic M&A$2B9.6x

Glean AI Funding History

Glean AI has raised a total of $11M across 2 funding rounds.

Glean AI's first fundraising round was a $3M pre-seed round in February 2020. The most recent completed round was a $8M seed round in March 2022.

Glean AI funding rounds

Glean AI funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2022SeedContour Venture Partners (lead); Parameter Ventures; Portage Ventures; Amex Ventures; Outpost Ventures; B Capital; Infinity Ventures; Evolution Ventures; Paul Heydon; Born Capital$8M-
Feb 2020Pre-seedContour Venture Partners (lead); Amex Ventures; Four Cities Capital; NOMO Ventures; Foundation Capital; Austin Ogilvie; Paul Heydon; Clocktower Technology Ventures$3MGlean AI, an accounts payable automation platform, closed a $7.8M seed and pre-seed round with participation from Contour Venture Partners and American Express Ventures, following an initial pre-seed in February 2020. The company focuses on driving intelligence in accounts payable processes.

Who has invested in Glean AI?

15 investors have backed Glean AI across its funding rounds, including Amex Ventures, Contour Venture Partners, Paul Heydon, Foundation Capital, B Capital and Clocktower Technology Ventures.

Lead investors include Contour Venture Partners.


Glean AI Investors

Investors in Glean AI by funding rounds participated
InvestorHQRoundsRoleFirst check
Amex VenturesUnited StatesNew York City, NY2ParticipantFeb 2020
Contour Venture PartnersUnited StatesNew York City, NY2LeadFeb 2020
Paul HeydonUnited KingdomLondon2ParticipantFeb 2020
Parameter VenturesUnited StatesNew York City, NY1ParticipantMar 2022
Portage VenturesCanadaToronto1ParticipantMar 2022
Four Cities CapitalUnited StatesBoston, MA1ParticipantFeb 2020
Outpost VenturesUnited StatesSan Francisco, CA1ParticipantMar 2022
NOMO VenturesUnited StatesSan Francisco, CA1ParticipantFeb 2020
B CapitalUnited StatesLos Angeles, CA1ParticipantMar 2022
Foundation CapitalUnited StatesSan Francisco, CA1ParticipantFeb 2020
Infinity VenturesUnited StatesSan Francisco, CA1ParticipantMar 2022
Austin OgilvieUnited StatesNew York City, NY1ParticipantFeb 2020
Evolution VenturesUnited StatesSan Jose, CA1ParticipantMar 2022

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Glean AI Competitors

Glean AI competitors include listed companies like Workday and SAP, and private ones like AppZen, infiBond, Cloudinary and d-Matrix.

Public and private companies comparable to Glean AI
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
WorkdayUnited StatesUnited StatesPublicly listed$9.6B$1.2B$48B4.7x
SAPGermanyGermanyPublicly listed$42B$13B$248B5.4x
AppZenUnited StatesSan Jose, CAPrivate--$1.3B-
infiBondIsraelTel AvivPrivate--$1.3B-
CloudinaryUnited StatesSan Jose, CAPrivate$100M-$2B20.0x
d-MatrixUnited StatesSan Jose, CAPrivate--$2B-

Glean AI Public Comps

Glean AI is no longer listed, but its public comps include Vertex, Haizhi, Money Forward, Ncino, C3.ai, Wenge AI, TRS Information Technology, BlackLine, Shenzhen Ysstech Info and Freee.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Vertex$748M$103M2.8x2.6x20.5x10.8x
Haizhi$93M($30M)21.5x16.3x(67.1x)(440.4x)
Money Forward$324M$55M6.8x5.8x39.7x34.4x
Ncino$595M$65M4.3x4.0x39.0x15.8x
C3.ai$250M($484M)4.3x4.5x(2.2x)(6.2x)
Wenge AI$60M($20M)27.6x-(82.7x)-
TRS Information Technology$76M($20M)19.3x19.7x(73.5x)478.8x
BlackLine$700M$72M2.6x2.5x25.6x8.5x

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Common questions about Glean AI

When was Glean AI founded?Glean AI was founded in 2020.
Where is Glean AI headquartered?Glean AI is headquartered in New York City, NY, United States.
Is Glean AI publicly listed?No, Glean AI was acquired by Pipe in April 2025.
Who acquired Glean AI?Glean AI was acquired by Pipe in April 2025.
How much was Glean AI acquired for?Glean AI was acquired for $2B in April 2025, a 9.6x revenue multiple.
How much funding has Glean AI raised?Glean AI has raised $11M across 2 funding rounds.
What was Glean AI's last funding round?Glean AI's last funding round was a $8M seed round in March 2022, led by Contour Venture Partners.
Who are Glean AI's investors?Glean AI's investors include Amex Ventures, Contour Venture Partners, Paul Heydon, Parameter Ventures, Portage Ventures, Four Cities Capital, Outpost Ventures, NOMO Ventures, B Capital, Foundation Capital and 5 others.
Which companies are comparable to Glean AI?Companies comparable to Glean AI include Workday, SAP, AppZen, infiBond, Cloudinary and d-Matrix.

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