# Hebbia

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hebbia

- Industry: Software
- Headquarters: New York, US
- Website: www.hebbia.ai/
- Total disclosed funding: $121M
- Latest round: Series B (Apr 29, 2024)
- Investors on record: 5

## About

Hebbia Inc. is a US-based company founded in 2020, specializing in generative AI solutions for the finance sector, enhancing data processing and decision-making for financial institutions.Hebbia Inc. operates as a technology firm that leverages generative AI to improve workflows in the finance industry. Headquartered in New York, US, the company was founded by George Sivulka, who has a background in technology development. As of April 2024, Hebbia raised USD 92.96 mn in Series B funding led by Andreessen Horowitz, with participation from GV and Index Ventures, bringing the total amount raised to USD 92.96 mn, and achieving a current company valuation of USD 613.038 mn.Hebbia offers a powerful generative AI platform specifically designed for the finance sector, enabling firms to enhance their data processing and decision-making capabilities. The core product, known as Matrix, applies advanced AI techniques to streamline complex workflows, automate the extraction and synthesis of information from various document types, and generate insights across a multitude of financial contexts. Key use cases include automating due diligence processes, generating initial drafts of investment memorandums, and analyzing legal documents for compliance and risk assessment. The platform caters primarily to large financial institutions, including hedge funds, private equity firms, and real estate companies, operating globally across markets such as North America, Europe, and Asia. By leveraging this technology, clients can transform vast amounts of unstructured data into actionable insights, thereby optimizing their investment strategies and operational efficiency.Hebbia generates revenue through a subscription model, providing clients with access to its Matrix platform based on tiered pricing plans that cater to different organizational needs and scales. The financial structure typically involves annual or multi-year contracts that grant users a range of features, including advanced analytics, data synthesis capabilities, and compliance monitoring tools. Clients, including some of the largest regulated institutions, engage with Hebbia's offerings to enhance productivity and drive innovation in their investment processes. The transactions are primarily structured as B2B relationships, where financial firms seek to integrate Hebbia's AI capabilities into their existing workflows, ultimately leading to improved efficiency and reduced manual labor. Flagship features of the platform focus on due diligence, reporting automation, and competitive analysis, significant areas of need for the company’s client base.In April 2024, Hebbia Inc. raised USD 92.96 mn in Series B funding to further develop its products, particularly focusing on the AI-Powered Document Search. The company plans to expand its reach into new geographic markets, targeting specific regions in Europe and Asia by the end of 2025. The recent funding will support these initiatives and help accelerate the rollout of new product features aimed at enhancing the capabilities of its Matrix platform.

## Funding rounds

- Series B, Apr 29, 2024, $93M — Index Ventures, GV, Andreessen Horowitz
- Series A, Jun 17, 2022, $28M — Index Ventures, Radical Ventures
- Seed, date not disclosed — Abstract Ventures

## Investors

- Abstract Ventures (https://capitalatlas.ai/funds/abstract-ventures) — Seed
- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Series A, Series B
- Radical Ventures (https://capitalatlas.ai/funds/radical-ventures) — Series A
- GV (https://capitalatlas.ai/funds/gv) — Series B
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series B