AI startup Hebbia raised $130M at a $700M valuation on $13 million of profitable revenue

Quick Summary:

Hebbia, a startup that uses generative AI to search large documents and respond to large questions, has raised a $130 million Series B at a roughly $700 million valuation led by Andresen Horowitz with participation of Index Ventures, Google Ventures and Peter Thiel.

Hebbia currently sells its software primarily to asset managers, investment banks and other financial institutions.

The $700 million valuation implies that investors valued Hebbia at about 54 times ARR.

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Article Details

Author / Journalist: Marina Temkin

Category: Technology

Markets: United States

Topics: A16z Venture Hebbia Peter Thiel Fundraising Index Ventures AI

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 23:04:29 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1072 words

Reading Time: 6 minutes read

Sentences: 48 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 21559078

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