Artificial intelligence startup Hebbia completes $130 million financing, led by a16z

Artificial intelligence startup Hebbia has completed a $130 million financing round, led by a16z with participation from Index Ventures, Google Ventures, and billionaire Peter Thiel. According to an insider, the New York-based company is currently valued at approximately $700 million. Hebbia plans to use the new funds for research and to hire more software engineers. Founded in 2020, Hebbia uses AI technology to help businesses screen various documents to answer complex questions. Its clients include the US Air Force, asset management companies, and legal service companies.