Hebbia, a New York-based startup using generative AI to search large documents and return answers, has raised nearly $100 million in Series B funding, bringing its total raised to over $120 million.
Investors
The round was led by Andreessen Horowitz (aka a16z) is a venture capital firm that backs bold entrepreneurs building the future through technology. The firm invests in seed to venture to growth-stage technology companies. a16z has $42 billion in assets under management across multiple funds.
About Hebbia
Founded in 2020 by George Sivulka, Hebbia provides AI and workflow automation solutions. Its product, Matrix, is an AI co-pilot that assists users in extracting, structuring, and analyzing large volumes of documents, facilitating full workflow automation with language learning models (LLMs). Hebbia's primary customers include financial service firms like hedge funds and investment banks, though its technology also applies to other professional fields such as law. The company’s mission is to transform how billions of humans work every day.
Funding Details
Company: Hebbia, Inc.
Raised: $100.0M
Round: Series B
Funding Month: June 2024
Lead Investors: Andreessen Horowitz
Additional Investors:
Company Website: https://www.hebbia.ai/
Software Category: AI and Workflow Automation Solutions
Source: https://techcrunch.com/2024/06/27/hebbia-raises-nearly-100m-seriesb-for-ai-powered-document-search-led-by-andreessen-horowitz/