Total amount raised
$161.1 Millions
Latest funding date
Location
Hebbia has successfully raised $130 million in a Series B funding round, achieving a valuation of $700 million. The AI platform is designed to transform heaps of information into actionable insights, catering to industries such as finance, law, and pharma.
Keep reading to explore the intricacies of Hebbia's fundraising journey and the investors backing this innovative platform.
What Is Hebbia?
Hebbia, founded on August 14, 2020, is an AI platform based in New York, New York. The company specializes in transforming large volumes of information into actionable insights, catering to industries such as finance, law, and pharma.
The platform was co-founded by George Sivulka, Lukas Schmit, and Tim Lupo. Hebbia's AI solutions are designed to automate complex workflows and handle various data types, making it a valuable tool for professionals in multiple sectors.
With a team of 101-250 employees, Hebbia continues to innovate and expand its offerings, helping firms execute tasks efficiently and securely.
How Much Funding Has Hebbia Raised?
- Pre-Seed Round
- Amount Raised: $1.1M
- Date: October 2020
- Lead Investors: Floodgate
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their AI platform and validate the product-market fit.
- Series A
- Amount Raised: $30M
- Date: July 2022
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand into new markets, particularly in finance and law.
- Series B
- Amount Raised: $130M
- Date: July 2024
- Lead Investors: Andreessen Horowitz
- Valuation at Round: $700M
- Motivation Behind the Round: To refine their AI tool and support growth in handling complex queries for enterprise clients.
Total amount raised: $161.1M. Current valuation: $700M.
Key Investors
- Andreessen Horowitz
- Details: A prominent venture capital firm based in Silicon Valley, known for its investments in high-growth technology companies.
- Investment Focus Areas: Technology, software, AI, internet services.
- Notable Investments: Facebook, Airbnb, Slack, Coinbase, Lyft.
- Index Ventures
- Details: A global venture capital firm with offices in London, San Francisco, and Geneva, investing in technology-enabled companies.
- Investment Focus Areas: Technology, software, e-commerce, biotech.
- Notable Investments: Dropbox, Etsy, Skype, Robinhood.
- Google Ventures (GV)
- Details: The venture capital investment arm of Alphabet Inc., focusing on innovative and high-impact sectors.
- Investment Focus Areas: Technology, life sciences, AI, healthcare.
- Notable Investments: Uber, Nest, Slack, Medium.
- Peter Thiel
- Details: A billionaire tech investor and co-founder of PayPal, known for his early investments in disruptive technologies.
- Investment Focus Areas: Technology, AI, biotech, financial services.
- Notable Investments: PayPal, Palantir Technologies, Facebook, SpaceX.
- Floodgate
- Details: A venture capital firm that focuses on early-stage investments, particularly in transformative technology companies.
- Investment Focus Areas: Technology, software, AI, consumer internet.
- Notable Investments: Twitter, Lyft, Okta.
What's Next for Hebbia?
Hebbia's future looks promising as it continues to refine its AI tool for complex document searches and queries. With notable clients like the US Air Force and asset managers, the company is well-positioned to expand its market reach. The growing integration of AI in enterprise settings presents a significant opportunity for Hebbia to attract more clients across various sectors.
Given the successful Series B round and the increasing demand for AI solutions, Hebbia may pursue additional funding to further enhance its offerings. However, the company will need to navigate challenges such as ensuring the accuracy of AI-generated responses and competing with other AI startups and established tech firms. Addressing these challenges will be crucial for Hebbia's continued growth and success.
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