Hebbia
| Company type | Private |
|---|---|
| Industry | Artificial Intelligence; Natural Language Processing |
| Founded | August 2020 |
| Founder | George Sivulka |
| Headquarters | , US |
| Website | hebbia |
Hebbia is an American technology company that develops artificial intelligence and automation tools for financial and legal research.[1] The company was founded in 2020 by George Sivulka, a former Stanford University PhD student, with its headquarters in New York City.[2][3]
Hebbia has raised capital from investors including Andreessen Horowitz, Index Ventures, and Google Ventures (GV), with individual investors such as Peter Thiel, Eric Schmidt, and Jerry Yang.[2][4]
History
[edit]Hebbia was founded in August 2020 by George Sivulka while he was a PhD student at Stanford University. The company's first product was an early semantic search engine created to enable in-page search using large language models.[2]
In 2022, the company launched Matrix, a software used to extract information from documents of various formats, including contracts, presentations, spreadsheets, transcripts, and filings using natural language,[5][6][4] particularly in finance, law, and other knowledge sectors.[5][4][7][8] In 2025, OpenAI announced that its large language models had been integrated into Hebbia's Matrix platform.[5]
Product and technology
[edit]Hebbia's main product, Matrix, is a software platform used to analyze documents such as PDFs, spreadsheets, and slide presentations. Users can pose queries in plain language, and the system returns answers with linked source citations.[4][5][9]
In finance, Matrix has been reportedly used by asset managers, investment banks, and private equity firms to support due diligence in mergers and acquisitions, as well as investment research.[4] Use cases include analyzing large volumes of documents and data, including virtual data rooms, contracts, market and equity research, and regulatory filings.[4]
Law firms reportedly use Matrix for transactional and litigation processes, including identifying material clauses, M&A due diligence, and document comparison.[4][5][10]
Funding
[edit]According to Bloomberg, Hebbia has raised over $160 million in venture capital since its founding.[2][11] In 2020, the company raised an early round of funding from Peter Thiel and Floodgate.[12] In 2022, Hebbia raised $30 million in a Series A fundraising round led by Index Ventures.[6]
In 2024, Hebbia raised $130 million in Series B funding led by Andreessen Horowitz, with participation from Index Ventures, GV (Google Ventures), and Peter Thiel.[2][6][13][10] Reported individual investors include former Google CEO Eric Schmidt and Yahoo co-founder Jerry Yang.[8]
References
[edit]- ^ Wiggers, Kyle (2022-09-07). "Hebbia raises $30M to launch an AI-powered document search tool". TechCrunch. Retrieved 2025-04-22.
- ^ a b c d e Sharma, Shubham (2024-07-08). "Hebbia nets $130M to build the go-to AI platform for knowledge retrieval". VentureBeat. Retrieved 2025-04-22.
- ^ Lin, Connie (2022-09-07). "Can Hebbia build a better Google? This 'neural search engine' wants to reinvent the algorithm". Fast Company.
- ^ a b c d e f g Stokes, Samantha (2024-08-29). "Legal tech is undergoing an AI revolution. Here are the 15 startups that have raised the most funding from VCs like a16z and Menlo Ventures". Business Insider. Retrieved 2025-04-22.
- ^ a b c d e "Automating 90% of finance and legal work with agents". openai.com. 2025-03-20. Retrieved 2025-04-22.
- ^ a b c Pasricha, Akash. "Pro Weekly: What This Summer's AI Deals Reveal". The Information. Retrieved 2025-04-22.
- ^ Crichton, Danny (2020-10-28). "Hebbia wants to make Ctrl-F (or Command-F) actually useful through better AI". TechCrunch. Retrieved 2025-04-22.
- ^ a b Metz, Rachel (2024-07-08). "AI Startup Hebbia Raises $130 Million to Help Firms Field Complex Queries". Bloomberg.com. Archived from the original on 2025-01-26. Retrieved 2025-04-22.
- ^ "Investing in Hebbia". Andreessen Horowitz. Retrieved 2025-04-22.
- ^ a b artificiallawyer (2024-07-02). "Hebbia's Plan to Target the Legal Sector – The AL Interview". Artificial Lawyer. Retrieved 2025-04-22.
- ^ Shibu, Sherin (2024-10-21). "AI Startups Raised $2.9 Billion in Three Months—Here's Why". Entrepreneur. Retrieved 2025-04-22.
- ^ "How Hebbia transforms business knowledge". NBC Bay Area. 2023-11-05. Retrieved 2025-04-22.
- ^ Metz, Rachel (2024-07-08). "AI Startup Hebbia Raises $130 Million to Help Firms Parse Data". Bloomberg Law.