Hebbia, an AI startup that helps businesses analyze all kinds of data to answer more complex, multi-step questions, has raised $130 million in Series B funding from several big-name investors.
The new funding round was led by Andreessen Horowitz, with participation from Index Ventures, Google Ventures and Peter Thiel, and was first reported late last month, valuing the company at around $700 million, according to Bloomberg.
The New York-based startup enables companies to comb through structured and unstructured data, like regulatory documents and PDFs, to answer deeper, more complex business questions.
Don’t slow down
The startup has grown its revenue 15x and employee count 5x over the past 18 months, and has raised a total of $161 million since being founded in 2020, according to Crunchbase.
“There have been seven great technological revolutions in human history: fire, agriculture, the wheel, repeatable manufacturing, electricity, the internet, and AI,” Hevia founder and CEO George Sivulka wrote in a blog . “AI is arguably the most important technology in our lives. But it’s not the technology that drives the revolution, it’s the products. At Hevia, we’re building a human layer on top of our AI – our products.”
After a slow start-up fundraising week before the holidays last week, the market seems ready to start replenishing AI startup capital as it did at the end of last month. In the last week of June, AI startups such as Etched.ai and Magic have reportedly raised or raised huge nine-figure rounds.
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Illustration: Dom Guzman
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