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Company Overview

Hebbia is a New York-based artificial intelligence company founded in 2020 that specializes in the development of artificial intelligence through multipleintelligent bodyHebbia's core product Matrix can intelligently parse PDFs, contracts, PPTs and other documents, supporting natural language questioning and generating structured, traceable analysis results. Its core product, Matrix, intelligently parses PDF, contract, PPT and other documents, supports natural language questioning, and generates structured and traceable analysis results.Hebbia utilizes how many big models to work together to improve the accuracy of information retrieval and the ability to deal with complex tasks, and is widely used in investment banking due diligence, legal review, asset management and other scenarios, and has been adopted by institutions such as BlackRock and KKR, and has raised more than $100 million in financing. Hebbia has been adopted by BlackRock, KKR and other organizations, and has raised more than $160 million in financing.

Products & Technologies

- Core Products Matrix

Hebbia's core product is an AI-enhanced search tool called Matrix, designed for the financial, legal, government, and pharmaceutical industries.Matrix is capable of handling documents in a variety of formats, including PDF, PowerPoint, spreadsheets, and transcripts, to provide organizations with comprehensive support for knowledge work.

- Technical Advantages

• rawfile processingabilities: Matrix's search engine is powered by Large Language Models (LLMs) capable of processing billions of documents at once. Whether it's scanned PDFs, PowerPoint, spreadsheets or transcripts, they can be quickly indexed and accurately found to solve complex queries.
• Precise information extraction and summarization: The tool can automatically extract key information, such as entities, relationships, events, etc., from a large number of documents, saving users' time and effort. It also converts unstructured text into structured data for subsequent analysis and processing, and automatically generates a brief summary of the document to help users better manage information.
• Understanding Query Intent: Matrix is able to understand the intent behind the query and provide more accurate and relevant search results. It's not just a simple keyword matching tool, but it's able to analyze the user's needs in depth and give more realistic answers.
• Data Security: Hebbia is the only cryptographic search engine on the market trusted by the world's largest financial institutions to handle their most sensitive data. This is an important advantage for financial services, law and other industries that require high data security.

Markets & Customers

- Target industry

Hebbia's target industries include the financial, legal and consulting sectors. Hebbia's products meet the need for efficient information processing for those who work with large volumes of documents and who need to sift through the content, summarize it, and output new content.

- client base

Hebbia's client base spans the world's top private equity firms, hedge funds, investment banks, law firms, and consulting organizations. For example, the U.S. Air Force, top asset managers, and banks use Hebbia's products to process their complex data. The number of clients continues to grow, with more than 20 large enterprise clients to date.

- Market applications

• Financial due diligence: In the financial sector, Hebbia's products optimize the due diligence process for multi-billion dollar deals, enabling teams to securely collaborate, retrieve and manage their insights to confidently close deals.
• Review of legal documents: Law firms can utilize Hebbia's tools to quickly review large volumes of legal documents, increasing efficiency and accuracy.
• Market Research: Organizations can use Hebbia's products to conduct market research and extract valuable information from large volumes of documents and data to support decision-making.

Financing and valuation

- Financing

Hebbia has raised significant amounts of capital through multiple rounds of financing. in September 2022, the company closed a $30 million Series A round led by Index Ventures with participation from Radical Ventures, with individual investors including Yahoo founder Jerry Yang, early Google investor and founding board member Ram Shriram, and others. between June and July 2024, Hebbia closed two consecutive high profile Series B rounds of $130 million, led by Anderson Horowitz (a16z), with a16z as lead investor. Between June and July 2024, Hebbia closed two consecutive high-dollar rounds of funding, with a $130 million Series B round led by Anderson Horowitz (a16z) with participation from Peter Thiel, Google Ventures, and others.

- Valuation growth

Hebbia's valuation continues to climb as funding continues to advance. As of July 2024, Hebbia is valued at $700 million. With annualized recurring revenue (ARR) of $13 million and 15x growth over the last 18 months, it is profitable and valued at a multiple of 54x ARR.