Hebbia Raises $130M in Series B Funding to Transform How Businesses Put Data to Work with AI

QUICK TAKE

• Hebbia uses AI to process, organize and analyze complex data precisely as a user instructs. No task is too complex, or dataset too large.
• The company has raised $130m in Series B funding to expand its research, grow its team and continue the pace at which its technology is evolving.
• Hebbia’s clients include the US Air Force, legal firm Fenwick, and FinServ clients such as Centerview Partners and Charlesbank. Founder George Sivulka says the product is being used by 30% of the top 50 asset managers by AUM.

THE DETAILS

The challenge with AI work tools is that often they perform like a transactional chatbot rather than providing insights as a human would. Hebbia is changing the stakes by transforming how businesses process data, using AI to not only search, and organize complex documents and datasets, but also provide analysis and insights.

Graduating from an AI-powered document search and summarization tool, Hebbia is now a platform that can analyze dense files and respond to users’ inquiries concisely and accurately, precisely in the way that is needed. With its ability to set up specialized workflows and display results granularly, Hebbia is an invaluable tool for businesses that can be used across a range of knowledge industries.

Hebbia is already being used at scale across asset managers, law firms, and banks. Founder George Sivulka says that customers are redefining how they work through the platform, using Hebbia to gain insights that were never before possible.

Some examples include:

• During the SVB crisis, asset managers instantly mapped exposure to regional banks across millions of documents.
• While filing proxy attacks, activist investors found inconsistencies across more 8Ks than humans alone could process.
• Corporate lawyers gained a negotiation edge by quantifiably encapsulating “market” terms in real-time – and analyzing contracts up to 95% faster.
• Thousands of Hebbia-powered AI agents have priced private assets more effectively, run new kinds of diligence, and screened more opportunities for asset managers.

With these new developments in mind, Hebbia has raised $130m in Series B funding to further its research, hire more software engineers, and expand into new industries.

Over the last 18 months, Hebbia grew revenue 15X, quintupled headcount, and drove over 2% of OpenAI’s daily volume. “But I’m even more proud of the mission we wake up every day to tackle: At Hebbia, we believe we’re building the most important software product of the next 100 years. We’re not settling for anything less,” says Sivulka.

This latest round of funding wassled by Andreessen Horowitz, with participation from Index Ventures, Google Ventures, and Peter Thiel.