AI Startup Hebbia Locks Up $130M Series B Led By a16z

Hebbia, an AI startup that helps businesses analyze all types of data to answer more complex, multi-step questions, raised a $130 million Series B from a handful of big-name investors.

The new round was led by Andreessen Horowitz and included participation from Index Ventures, Google Ventures and Peter Thiel. The round — which initially was reported late last month — values the company at approximately $700 million, per Bloomberg.

The New York-based startup allows companies to sift through structured and unstructured data — including regulatory filings and PDFs — to answer more detailed and complicated business questions.

Not slowing down

In the last 18 months, the startup has grown revenue 15x and quintupled headcount. Founded in 2020, the company has raised a total of $161 million, per Crunchbase.

“There have been seven major technological revolutions in human history: fire, agriculture, the wheel, repeatable manufacturing, electricity, the internet and AI,” wrote George Sivulka, Hebbia’s founder and chief executive officer, in a blog. “AI is undoubtedly the most important technology of our lives. But technology doesn’t drive revolutions — products do. Hebbia is building the human layer — the product layer — to AI.”

After a slow funding week for startups last week before the holiday, the market seems ready to start filling the coffers of AI startups similar to how last month ended. In the last week of June, several AI-related startups like Etched.ai and Magic raised — or were reportedly raising — large, nine-figure rounds.

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• Eye On AI: OpenAI Goes On A Buying Spree As AI Looks To Open Up M&A, IPO Markets

Illustration: Dom Guzman