Hebbia raises nearly $100M Series B for AI-powered document search led by Andreessen Horowitz

Hebbia raises $100M Series B, led by Andreessen Horowitz, for its AI document search tech, valued at $700-$800M.

: Hebbia, founded by George Sivulka in 2020, raised nearly $100 million in a Series B led by Andreessen Horowitz. The company, valued between $700-$800 million, uses AI to scan and retrieve information from large documents for financial firms. Previous investors include Index Ventures and Radical Ventures, with total funding now over $120 million.

Hebbia, a startup created by George Sivulka, has successfully secured nearly $100 million in a Series B funding round, which was led by Andreessen Horowitz. The company is now valued between $700 and $800 million, although it's unclear if this is a pre- or post-money valuation.

Hebbia's innovative technology uses AI to scan through billions of documents, including PDFs, PowerPoints, and spreadsheets, to provide precise answers. The primary customers are financial services firms, such as hedge funds and investment banks, but the technology is also applicable to law firms and other professional sectors.

The new funding round brings Hebbia's total capital raised to over $120 million. Previously, the company had raised $30 million in a Series A round in September 2022, led by Index Ventures and supported by Radical Ventures. Similar companies in the field include Glean, which recently raised $200 million in a Series D round.