Glean’s private valuation has been shaped primarily by secondary market trading activity, with implied values falling to around $6.1 billion as of late October 2026, down roughly 15% from the $7.2 billion post-money level set in the June 2025 Series F round led by Wellington Management. The company reached $300 million in annual recurring revenue by May 2026 after rapid expansion from $100 million ARR in early 2025, driven by enterprise adoption of its AI-powered search and agent platform. However, softer secondary pricing reflects broader private-market caution in enterprise software and AI, with Glean shares underperforming public comparables such as Elastic amid elevated interest rates and selective investor sentiment. No new primary funding has occurred since 2025, leaving secondary prints as the key benchmark for any valuation thresholds.