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Hebbia , a inauguration using reproductive AI to research large documents and come back answers , has raised a nearly $ 100 million Series B led by Andreessen Horowitz , according to three people with knowledge of the matter .
The round valued the society between $ 700 million and $ 800 million , although TechCrunch could n’t control whether that valuation is pre- or post - money . ( One potential scenario is $ 700 million pre/$800 million post.)Hebbia disclosed in an SEC filing in Maythat it had by then raised $ 93 million out of a hoped - for $ 100 million , but we understand from two of the people that the round hit a skinny $ 100 million scar and has closed .
Hebbia and Andreessen Horowitz did n’t respond to a postulation for comment .
Hebbia was establish in 2020 by George Sivulka , who launched the company while working on his Ph.D. in electrical engine room at Stanford . Sivulka was inspire by his friend working in the fiscal industriousness who told him that part of their prospicient oeuvre weeks was spent searching for information in SEC filing and other impenetrable documents . Sivulka imagine that AI could help them economise hours at the office and give them more sentence for sleep and sleep .
Hebbia ’s AI can look over billions of documents at once , include PDFs , PowerPoints , spreadsheet and transcripts and return specific resolution , the company says .
The inauguration sell primarily to financial service firms , include hedge funds and investment banks . But its product could also be used by law firms and other professional domains .
The latest funding brings Hebbia ’s full capital to over $ 120 million . The company raised its$30 million Series Ain September 2022 led by Index Ventures with participation from Radical Ventures .
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The company ’s product is similar to Glean , whose software can fetch entropy in manifest English from various business diligence . In February , Glean raised a$200 million Series Dat a valuation of $ 2.2 billion , top by Kleiner Perkins and Lightspeed .
