Hebbia is an AI firm based in New York that has raised $130 million in series B funding to use its AI-powered platform, Matrix, to transform enterprise operations.

Hebbia, a 2020 startup based in New York, is attempting to completely transform the way individuals work by developing an AI-powered platform that allows users to find insights and data from AI agents that are pertinent to their daily tasks.

The startup received funding from Index Ventures, Andreessen Horowitz, and Google Ventures. Co-founder of PayPal and billionaire tech investor Peter Thiel joined them.

Hebbia also declared that in the previous 18 months, company revenue had increased fifteen times.

According to the startup, it contributed more than 2% of OpenAI’s daily compute volume. Hebbia’s platform is built on top of models developed by OpenAI.

“AI is undoubtedly the most important technology of our lives. But technology doesn’t drive revolutions, products do,” said George Sivulka, Hebbia’s founder and CEO. “At Hebbia, we believe we’re building the most important software product of the next 100 years. We’re not settling for anything less.”

Enterprises can access their chatbot apps through subscriptions from leading AI developers such as Anthropic and OpenAI. Conversely, Hebbia offers a more specialized platform solution with insights particular to the industry.

Enterprise users can input data into Hebbia’s Matrix platform, and its AI agents can perform jobs. Matrix, for instance, might examine a collection of documents to identify vulnerabilities in a portfolio or evaluate transactions and business prospects.

Retrieval-Augmented Generation (RAG), or knowledge retrieval, is combined with OpenAI’s model in Hebbia’s Matrix platform. Because it is linked to data sources other than the corpus of the original model, this allows an AI system to produce responses that are more accurate.

Matrix is a “transactional chatbot,” according to the business, that people can use with ease to optimize operations.

Hebbia says that its user base includes asset managers, banks, and legal firms in addition to Fortune 100 corporations.

By examining contracts and other relevant documents, Matrix users have priced private assets and discovered discrepancies in cybersecurity tests.

“I’m excited for a world of unbound progress, one where AI agents contribute more to global GDP than every human employee,” Sivulka said. “I believe that Hebbia is going to get us there.”

Hebbia is not the only firm attempting to use AI to supplement enterprise workloads. Vectara, Glean, and Typeface all provide comparable fixes. IBM, a significant participant in the computer industry, is a competitor as well with its WatsonX generative AI platform.