Hebbia's AI can scan billions of documents at once, including PDFs, PowerPoints, spreadsheets, and transcripts, and return specific answers. The company's product could also be used by law firms and other professional domains. The latest funding follows a $30 million Series A in September 2022 led by Index Ventures with participation from Radical Ventures. The company's product is similar to Glean, a software that can fetch information in plain English from various business applications.
Key takeaways:
- Hebbia, an AI startup that uses generative AI to search large documents and return answers, has raised nearly $100 million in a series B funding round led by Andreessen Horowitz.
- The company was valued between $700 – $800 million in this round, with Emergence Capital also participating.
- Hebbia's AI can scan billions of documents at once, including PDFs, PowerPoints, spreadsheets and transcripts, and return specific answers. The startup primarily sells to financial service firms, including hedge funds and investment banks.
- The latest funding brings Hebbia’s total capital to over $120 million. The company raised its $30 million Series A in Sept. 2022 led by Index Ventures with participation from Radical Ventures.