Glean provides automated vendor-payment tools and tech-driven insights into expenses. Choo, of Portage Ventures, an investor in Glean, said the additional layer of knowledge helps a business owner "manage your cost levers and actually dig into exactly what you're spending on.
It's hard for businesses to hold teams accountable for their spend if they don't have the data. Without knowing the numbers, they can't ask the right questions to ensure that the teams are driving return on investment
Glean AI, a startup launched by Better.com’s ex-CFO Howard Katzenberg that provides artificial intelligence-based accounts payable software, announced raising a $10.8 seed round, according to a press release shared with FinLedger.
It's estimated that startups and small businesses waste in excess of $130B each year as a result of poor visibility into vendor spending.
Having held the positions of CFO at digital lenders OnDeck and Better.com, Howard Katzenberg experienced firsthand just what a lack of visibility into company spend could cost an organization.
Expense cutting as a way to boost growth typically isn't part of the conversation early on, and finance teams are viewed as cost centers relative to sales teams.
