# Hebbia revenue, valuation & funding

Markdown copy of https://realalpha.app/companies/hebbia/ on Real Alpha, the best minutes from long interviews with the people building AI. Cite and link the page, not this copy.

Hebbia was valued at about $700M when it raised a $130M Series B in July 2024, its last reported valuation. Sacra estimates its annual recurring revenue reached $48M in August 2026. Hebbia is private and hasn't stated any plan to go public.

Checked Nov 8, 2026

## At a glance

- Valuation: about $700M at its $130M Series B in July 2024, led by Andreessen Horowitz. No later priced round has been reported.
- Revenue: an estimated $48M in annual recurring revenue in August 2026, per Sacra. Hebbia publishes no audited results.
- Status: private. No stock ticker. No stated IPO plan.
- Founded: August 2020, by [George Sivulka](https://realalpha.app/builders/george-sivulka/) while he was a PhD student at Stanford.
- CEO: [George Sivulka](https://realalpha.app/builders/george-sivulka/).
- Investors: Andreessen Horowitz, Index Ventures, Google Ventures, Peter Thiel, Radical Ventures and Presight-Shorooq Fund I.
- Products: Matrix, its document analysis product, Max (an AI team member) and Headless Hebbia, an API and MCP server.
- Employees: 147 as of March 31, 2026, per Tracxn.

## Is Hebbia public? Can you buy its stock?

No. Hebbia is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol. [Forge](https://forgeglobal.com/hebbia_stock/) lists it as privately held and not traded on the NYSE or NASDAQ.

Hebbia and its CEO, [George Sivulka](https://realalpha.app/builders/george-sivulka/), haven't said publicly whether or when it plans to go public. No IPO filing has been reported.

Its shares are held by Sivulka, its staff and its investors, led by Andreessen Horowitz and Index Ventures. No stakes have been disclosed. This page reports facts and gives no investment advice.

## Valuation, round by round

Hebbia raised $30M in its Series A in September 2022, and its July 2024 Series B valued it at about $700M.

- Jul 2024 · $700M · $130M · Andreessen Horowitz · [TechCrunch](https://techcrunch.com/?p=2806944)
- Sep 2022 · — · $30M · Index Ventures · [TechCrunch](https://techcrunch.com/2022/09/07/hebbia-raises-30m-to-launch-an-ai-powered-document-search-tool/)

The Series A and Presight-Shorooq Fund I's February 2026 investment came with no valuation. A $1.1M pre-seed from Floodgate in 2020 appears only in a data note and isn't confirmed.

## Revenue

Hebbia doesn't publish results. TechCrunch reported $13M of ARR in July 2024, and Sacra estimates it reached $48M in August 2026, up from an estimated $30M at the end of 2025.

- Aug 2026 · $48M · Estimate · [Sacra](https://sacra.com/c/hebbia/)
- Dec 2024 · $17M · Estimate · [Sacra](https://sacra.com/c/hebbia/)
- Jul 2024 · $13M · Reported · [TechCrunch](https://techcrunch.com/2024/07/09/ai-startup-hebbia-rased-130m-at-a-700m-valuation-on-13-million-of-profitable-revenue/)

ARR is a run rate, a month's revenue times twelve, and isn't audited revenue. The figures for the end of 2024 and August 2026 are Sacra's estimates.

## How Hebbia makes money

Hebbia sells subscriptions. [Sacra](https://sacra.com/c/hebbia/) describes it as a SaaS company selling AI document analysis software, mainly to financial institutions, law firms and government agencies. Its plans are priced per seat, per year.

At its Series B, Hebbia said it had grown revenue 15X over the previous 18 months ([Index Ventures](https://www.indexventures.com/perspectives/hebbia-raises-130m-in-series-b-funding-to-transform-how-businesses-put-data-to-work-with-ai/)).

In July 2024 a person with knowledge of the matter told [TechCrunch](https://techcrunch.com/2024/07/09/ai-startup-hebbia-rased-130m-at-a-700m-valuation-on-13-million-of-profitable-revenue) that Hebbia was profitable while pitching that round. Sivulka declined to comment on profitability, and no later figure has been reported.

- **Professional plan.** Sacra says it costs $10,000 per seat per year, with unlimited reasoning, agent building and integrations such as PitchBook and CapIQ. · [Sacra](https://sacra.com/c/hebbia/)
- **Lite plan.** Sacra says it costs $3,000 to $3,500 per seat per year, for users who run set agents and search their firm's data. · [Sacra](https://sacra.com/c/hebbia/)
- **Licensed data.** A February 2026 partnership with Fitch Solutions puts Fitch's credit ratings and research on the platform. · [Business Wire](https://www.businesswire.com/news/home/20260305987183/en/Hebbia-Expands-U.K.-and-EMEA-Team-Amid-Accelerating-Customer-Adoption)

## Products

- **Matrix** (2022). Its flagship product, which pulls information from contracts, presentations, spreadsheets, transcripts and filings. · [Wikipedia](https://en.wikipedia.org/wiki/Hebbia)
- **Matrix 2.0** (August 26, 2026). A major upgrade to Matrix. · [Hebbia's blog](https://www.hebbia.com/blog/product)
- **Max** (July 30, 2026). Hebbia calls it the first AI team member built for the way a firm works. · [Hebbia's blog](https://www.hebbia.com/blog/product)
- **Headless Hebbia** (October 1, 2026). An API and MCP server that let firms use Hebbia inside the tools they already work in. · [Hebbia's blog](https://www.hebbia.com/blog/product)

## Customers

Hebbia sells mainly to investment firms and law firms. In a March 2026 [release](https://www.businesswire.com/news/home/20260305987183/en/Hebbia-Expands-U.K.-and-EMEA-Team-Amid-Accelerating-Customer-Adoption), it said investment banks and over 40% of the largest asset managers by AUM use it.

In July 2024 Sivulka told [TechCrunch](https://techcrunch.com/?p=2806944) its product was used by 30% of all asset managers.

Seyfarth Shaw had processed more than seven million pages of legal documents through Hebbia by March 2026, per [Business Wire](https://www.businesswire.com/news/home/20260312308364/en/Seyfarth-Leads-Next-Phase-of-Deal-Execution-and-Diligence-Through-AI-Partnership-with-Hebbia).

- **Seyfarth Shaw.** The law firm announced a partnership in March 2026, expanding its use of Matrix across its transactional practices. · [Business Wire](https://www.businesswire.com/news/home/20260312308364/en/Seyfarth-Leads-Next-Phase-of-Deal-Execution-and-Diligence-Through-AI-Partnership-with-Hebbia)
- **Centerview Partners, Charlesbank and Fenwick** were named as customers by TechCrunch in July 2024. · [TechCrunch](https://techcrunch.com/?p=2806944)
- **EMEA.** Hebbia reported a 373% year-over-year increase in EMEA revenue from FY25 to FY26. · [Business Wire](https://www.businesswire.com/news/home/20260305987183/en/Hebbia-Expands-U.K.-and-EMEA-Team-Amid-Accelerating-Customer-Adoption)

## Leadership

Tracxn put Hebbia's headcount at 147 on March 31, 2026 ([Tracxn](https://tracxn.com/d/companies/hebbia/__QVC5BFqOGZ0XKXpKNqSBMDNtp5MbZKx6B_v8_KNqpVE)).

In December 2025 Artificial Lawyer reported that [Harvey](https://realalpha.app/companies/harvey/) hired Hebbia's Ryan Samii to lead product innovation.

- **[George Sivulka](https://realalpha.app/builders/george-sivulka/),** founder and CEO. He started Hebbia in August 2020 while a PhD student at Stanford. · [Business Wire](https://www.businesswire.com/news/home/20260312308364/en/Seyfarth-Leads-Next-Phase-of-Deal-Execution-and-Diligence-Through-AI-Partnership-with-Hebbia)
- **Swetha Revanur,** head of product and engineering, per Tracxn. Tracxn also names her a co-founder, while TechCrunch calls Sivulka the sole founder. · [Tracxn](https://tracxn.com/d/companies/hebbia/__QVC5BFqOGZ0XKXpKNqSBMDNtp5MbZKx6B_v8_KNqpVE)
- **Rob Huckin,** regional VP, named in March 2026 as Hebbia expanded in the U.K. and EMEA. · [Business Wire](https://www.businesswire.com/news/home/20260305987183/en/Hebbia-Expands-U.K.-and-EMEA-Team-Amid-Accelerating-Customer-Adoption)
- **Paul Boland,** head of content, named at the same time. · [Business Wire](https://www.businesswire.com/news/home/20260305987183/en/Hebbia-Expands-U.K.-and-EMEA-Team-Amid-Accelerating-Customer-Adoption)

## Who owns Hebbia?

Its founder, staff and investors. As a private company Hebbia doesn't publish who holds what, and no stake has been disclosed.

- **Andreessen Horowitz** led the $130M Series B in July 2024. · [TechCrunch](https://techcrunch.com/?p=2806944)
- **Index Ventures** led the $30M Series A in September 2022, with Radical Ventures taking part. · [TechCrunch](https://techcrunch.com/2022/09/07/hebbia-raises-30m-to-launch-an-ai-powered-document-search-tool/)
- **Index Ventures, Google Ventures and Peter Thiel** joined the Series B. · [Index Ventures](https://www.indexventures.com/perspectives/hebbia-raises-130m-in-series-b-funding-to-transform-how-businesses-put-data-to-work-with-ai/)
- **Presight-Shorooq Fund I,** a partnership between Presight, a G42 company, and Shorooq, made an undisclosed investment announced in February 2026. · [Wamda](https://www.wamda.com/2026/02/100m-presight-shorooq-ai-fund-backs-frontier-ai-companies-quarter)
- **Floodgate** is listed by GAII as leading a $1.1M pre-seed in 2020, which no primary report confirms. · [GAII Institute](https://www.gaiiinstitute.com/research-updates/hebbia-coverage-update-21-oct-2026/)

## Competitors

Analysts and data sites name different rivals.

- **[Glean](https://realalpha.app/companies/glean/),** which Sacra calls a direct competitor with its AI enterprise search. Sacra puts Glean's value at $4.6B. · [Sacra](https://sacra.com/c/hebbia/)
- **[Databricks](https://realalpha.app/companies/databricks/),** listed by Tracxn among Hebbia's top competitors. · [Tracxn](https://tracxn.com/d/companies/hebbia/__QVC5BFqOGZ0XKXpKNqSBMDNtp5MbZKx6B_v8_KNqpVE)
- **[Palantir](https://realalpha.app/companies/#palantir),** also on Tracxn's list. · [Tracxn](https://tracxn.com/d/companies/hebbia/__QVC5BFqOGZ0XKXpKNqSBMDNtp5MbZKx6B_v8_KNqpVE)
- **Anaplan,** also on Tracxn's list. · [Tracxn](https://tracxn.com/d/companies/hebbia/__QVC5BFqOGZ0XKXpKNqSBMDNtp5MbZKx6B_v8_KNqpVE)

## Timeline and latest news

- Oct 1, 2026 · Introduced Headless Hebbia, an API and MCP server. · [Hebbia's blog](https://www.hebbia.com/blog/product)
- Aug 26, 2026 · Launched Matrix 2.0, a major upgrade to its flagship product. · [Hebbia's blog](https://www.hebbia.com/blog/product)
- Aug 2026 · Sacra estimated its ARR at $48M. · [Sacra](https://sacra.com/c/hebbia/)
- Jul 30, 2026 · Introduced Max, which it calls its first AI team member. · [Hebbia's blog](https://www.hebbia.com/blog/product)
- Mar 12, 2026 · Seyfarth Shaw announced a partnership to expand its use of Matrix. · [Business Wire](https://www.businesswire.com/news/home/20260312308364/en/Seyfarth-Leads-Next-Phase-of-Deal-Execution-and-Diligence-Through-AI-Partnership-with-Hebbia)
- Mar 5, 2026 · Named Rob Huckin and Paul Boland as it expanded in the U.K. and EMEA. · [Business Wire](https://www.businesswire.com/news/home/20260305987183/en/Hebbia-Expands-U.K.-and-EMEA-Team-Amid-Accelerating-Customer-Adoption)
- Feb 24, 2026 · Presight-Shorooq Fund I's undisclosed investment in Hebbia was announced. · [Wamda](https://www.wamda.com/2026/02/100m-presight-shorooq-ai-fund-backs-frontier-ai-companies-quarter)
- Feb 24, 2026 · Announced a partnership with Fitch Solutions on credit data. · [Business Wire](https://www.businesswire.com/news/home/20260305987183/en/Hebbia-Expands-U.K.-and-EMEA-Team-Amid-Accelerating-Customer-Adoption)
- Jul 9, 2024 · Announced a $130M Series B at about a $700M valuation, led by Andreessen Horowitz. · [TechCrunch](https://techcrunch.com/?p=2806944)
- Jun 27, 2024 · TechCrunch reported a Series B of nearly $100M led by Andreessen Horowitz. · [Yahoo Finance (TechCrunch)](https://finance.yahoo.com/news/hebbia-raises-nearly-100m-series-202004177.html)
- Sep 7, 2022 · Announced a $30M Series A led by Index Ventures. · [TechCrunch](https://techcrunch.com/2022/09/07/hebbia-raises-30m-to-launch-an-ai-powered-document-search-tool/)
- Aug 2020 · Founded by George Sivulka while he was a PhD student at Stanford. · [TechCrunch](https://techcrunch.com/?p=2806944)

## Questions people ask

### Is Hebbia a public company? Can I buy Hebbia stock?

No. Hebbia is private and has no ticker, so its shares aren't sold on any exchange.

### When will Hebbia IPO?

Hebbia hasn't stated a plan or a date to go public, and no filing has been reported.

### Who owns Hebbia?

Its founder, staff and investors, including Andreessen Horowitz, Index Ventures, Google Ventures, Peter Thiel and Radical Ventures. Stakes haven't been disclosed.

### Who is the CEO of Hebbia?

[George Sivulka](https://realalpha.app/builders/george-sivulka/), who founded it in 2020.

### Who founded Hebbia?

George Sivulka, in August 2020, while he was a PhD student at Stanford. Tracxn also names Swetha Revanur as a co-founder, while TechCrunch calls Sivulka the sole founder.

### How much is Hebbia worth?

About $700M at its $130M Series B in July 2024, per [TechCrunch](https://techcrunch.com/?p=2806944). No later valuation has been reported.

### How much revenue does Hebbia make?

[Sacra](https://sacra.com/c/hebbia/) estimates $48M in annual recurring revenue in August 2026. Hebbia publishes no audited results.

### Is Hebbia profitable?

[TechCrunch](https://techcrunch.com/2024/07/09/ai-startup-hebbia-rased-130m-at-a-700m-valuation-on-13-million-of-profitable-revenue) reported it was profitable when pitching its 2024 Series B, citing one person. Sivulka declined to comment.

### How does Hebbia make money?

It sells yearly subscriptions priced per seat, mainly to financial institutions, law firms and government agencies. Sacra puts its Professional plan at $10,000 per seat per year.

### Who are Hebbia's competitors?

Sacra names Glean as a direct competitor. Tracxn lists Databricks, Palantir and Anaplan.

## People on Real Alpha

- [George Sivulka](https://realalpha.app/builders/george-sivulka/), Founder & CEO, Hebbia

## How this page is sourced

Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it.