AI Startup Hebbia Raises $130 Million to Help Firms Parse Data

Hebbia, a startup using artificial intelligence to help businesses sift through all kinds of documents to answer complex questions, has raised $130 million in a funding round — the latest sign of investor enthusiasm for deploying AI in the workplace.

The financing, set to be announced Monday, was led by Andreessen Horowitz, with participation from Index Ventures, Google Ventures and billionaire tech investor Peter Thiel. The New York-based company is now valued at roughly $700 million, according to a person familiar with the matter, who spoke on condition of anonymity to discuss private information. Some details of the funding round were previously reported by TechCrunch.

Founded in 2020, Hebbia’s software ...