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Hebbia

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 A deep dive into Hebbias' financials, product, competitive environment, and market opportunities...
 
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 Hebbia has achieved USD 13 million in ARR, reflecting a 15x growth over the past 18 months, as of June 2024. The company&rsquo;s revenue surged from approximately USD 900,000 in December 2022 to USD 10 million by December 2023.
 
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 Hebbia's flagship product, Matrix, allows users to analyze large volumes of unstructured data across multiple document types simultaneously. This tool is particularly beneficial to private equity analysts conducting due diligence.
 
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 Matrix features a distinctive &quot;data-grid&quot; interface that facilitates interaction with LLMs in a more intuitive manner than traditional chat interfaces. It can ingest various document formats and automate complex queries, significantly reducing analysis time.
 
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 During its Series B funding round in July 2024, led by Andreessen Horowitz, Hebbia was valued at USD 700 million. The company raised a total of USD 161.1 million across four funding rounds, with Series B accounting for USD 130 million.
 
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 The valuation represents an approximate 54x revenue multiple, indicating strong investor confidence based on the reported ARR.
 
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 Hebbia operates as a subscription-based SaaS company, primarily targeting financial institutions, law firms, and government agencies. Pricing is approximately USD 15,000 per seat annually, placing it in the premium enterprise software category.
 
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 Hebbia competes with established enterprise search platforms and new AI-focused startups. Notable competitors include Microsoft SharePoint Search and Glean, which emphasize security and integration but may lack Hebbia's specialized features for financial document analysis.
 
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 Hebbia is positioned to expand into adjacent markets such as enterprise knowledge management and workflow automation. Its capabilities allow it to unify fragmented knowledge across various SaaS applications, enhancing its appeal as an AI-powered workplace assistant.
 
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