Glance Achieves $1.8B Valuation, Becomes India's Fastest Unicorn
Glance Finance, a consumer tech platform founded in 2019, has reached unicorn status with a $1.8 billion valuation within one year. The company has raised $390 million across four funding rounds from investors including Google, Mithril Capital, and Jio Platforms. Glance's AI-driven content delivery to smartphone lock screens has garnered over 235 million active users. The company's revenue increased from $38.70 million in FY 2022-23 to $73.10 million in FY 2023-24, though it reported a net loss of ₹929.00 crore. Glance is expanding internationally, particularly in Japan, and has appointed Mansi Jain as COO. The company recently secured ₹200.00 crore in debt financing from Stride Ventures to support its growth plans.
*this image is generated using AI for illustrative purposes only.
Glance Finance , a consumer tech platform founded in 2019, has rapidly ascended to unicorn status, achieving a $1.8 billion valuation within just one year of its inception. This remarkable feat has earned Glance the title of India's fastest unicorn, according to the ASK Private Wealth Hurun India Unicorn and Future Unicorn Report 2025.
Rapid Growth and Funding
The Bengaluru-based company, operating as a subsidiary of InMobi, has attracted significant investor interest. Glance has successfully raised $390 million across four funding rounds, with notable investors including tech giant Google, Mithril Capital, and Jio Platforms. This substantial backing has fueled the company's rapid growth and expansion plans.
AI-Driven Innovation
Glance's core offering revolves around delivering AI-driven content directly to smartphone lock screens. This innovative approach has resonated with users, resulting in an impressive user base of over 235 million active users. The company is now setting its sights on expanding its AI-driven commerce platform to new markets, including the United States, Japan, and further penetration in India.
Financial Performance
Despite its unicorn status, Glance is still in its growth phase, as reflected in its financial results:
| Metric | FY 2023-24 | FY 2022-23 |
|---|---|---|
| Revenue | $73.10 million | $38.70 million |
| Net Loss | ₹929.00 crore | - |
While the company has nearly doubled its revenue year-over-year, it continues to incur significant losses as it invests in growth and expansion.
Strategic Expansion and Leadership
Glance is aggressively pursuing international expansion, with a particular focus on the Japanese market. The company has set an ambitious target of reaching 10 million devices in Japan by December. To support its growth trajectory, Glance has recently appointed Mansi Jain as Chief Operating Officer, bringing in experienced leadership to guide its operations.
Financial Backing
In a move to further strengthen its financial position, Glance has secured ₹200.00 crore in debt financing from Stride Ventures. This additional capital is likely to support the company's expansion plans and ongoing operations.
Founders and Origins
Glance's success story is attributed to its founding team, comprising Naveen Tewari, Abhay Singhal, Mohit Saxena, and Piyush Shah. Their vision of transforming the smartphone lock screen into a content delivery platform has clearly struck a chord with both users and investors alike.
As Glance continues its rapid ascent in the tech world, it will be interesting to see how the company leverages its unicorn status and significant funding to drive further innovation and expansion in the competitive global tech landscape.
Historical Stock Returns for Glance Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -6.54% | -15.57% | -1.34% | +39.54% | +72.18% | +355.87% |
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