Hebbia, a New York-based AI startup, has raised $130 million in its Series B funding round aimed at revolutionizing enterprise workflows with its AI-powered platform, Matrix. Founded in 2020, Hebbia seeks to transform how businesses operate by leveraging AI to extract actionable insights and streamline complex workflows.
The funding round was led by prominent investors including Google Ventures, Andreessen Horowitz, and Index Ventures, with participation from PayPal co-founder Peter Thiel. Hebbia also reported a significant growth trajectory, with its revenue increasing fifteen-fold over the past 18 months.
Hebbia's Matrix platform integrates OpenAI's models with advanced knowledge retrieval capabilities, allowing AI agents to provide nuanced insights tailored to specific industry needs. This approach, termed Retrieval-Augmented Generation (RAG), enhances the platform's ability to analyze documents, assess business opportunities, and optimize decision-making processes.
George Sivulka, Founder and CEO of Hebbia, expressed confidence in the transformative potential of AI-driven technologies, emphasizing Matrix's role in driving future productivity gains across various sectors. With Fortune 100 companies, asset managers, law firms, and banks among its clientele, Hebbia aims to lead the charge in augmenting enterprise capabilities through innovative AI solutions.
Hebbia faces competition from other AI startups like Typeface, Glean, and Vectara, as well as established players such as IBM's watsonX platform, highlighting a growing trend towards AI-powered tools in enterprise environments.
