Hebbia, a New York-based startup developing AI-infused search tools, announced that it had raised $30 million in Series A funding.
The round was led by Index Ventures with participation from Radical Ventures and individual investors.
The new funds will go toward expanding Hebbia's engineering team and accelerating the development of its product platform, as well as expanding its customer acquisition efforts into professional services industries.
The company's first product is a Chrome plugin that upgrades the search functionality in Chrome to go beyond text pattern matching to begin to comprehend the query and how it might be answered given the text on a page.
Company: Hebbia, Inc.
Raised: $30.0M
Round: Series A
Funding Month: September 2022
Lead Investors: Index Ventures
Additional Investors: Radical Ventures
Company Website: https://www.hebbia.ai/
Software Category: AI-powered document search platform
About the Company: Founded in August of 2020 by George Sivulka, a PhD student from Stanford, Hebbia is a developer of artificial intelligence productivity tools that aim to reinvent the search engine to intelligently answer the world's most complex questions. Hebbia uses deep learning techniques and models to facilitate the work that knowledge graphs, semantic analysis, and AI do for human productivity. The company's AI understands and reasons over written knowledge to synthesize meaningful responses in seconds, allowing clients to focus on searching through public and private content and making more confident decisions. Hebbia's headquarters are in New York, and it currently employs 15 people and has 20 paying customers, including several of the world’s largest private equity firms, hedge funds, consultancies, and government projects.
Source: https://techcrunch.com/2022/09/07/hebbia-raises-30m-to-launch-an-ai-powered-document-search-tool/