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Hebbia Launches an Ai-Powered Document Search Engine

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Hebbia Launches an Ai-Powered Document Search Engine-GadgetAny
Ai-Powered Document Search Engine

The company raises $30M to launch an AI-powered document search tool.

A startup company, Hebbia, announced today that it collected $ 30 million in a Series A round under Index Ventures’ directions and Radical Ventures’ participation. Hebbia is a startup company that develops AI-powered search tools. Some of the company’s noted investors were Jerry Yang, Co-founder of Yahoo!, Tech Crunch’s parent company, and Raquel Urtasun, former AI research head at Uber.

Hebbia CEO George Sivulka informed TechCrunch that the fund raised would be invested in building Hebbia’s engineering team. Apart from expanding the company’s determined customer acquisition attempts into professional services industries, Hebbia would also invest in the “accelerating development” of its product platform.

The startup company, founded by Stanford’s AI research team, applied AI techniques to form search and summarization tools equipped to make sense of specialized domain knowledge, as per TechCrunch’s last article on Hebbia. One such tool was a Chrome plug-in called Ctrl-F. It enhanced Chrome’s search functionality to advance further into processing natural language, highlighting helpful information directly on pages and the usual text pattern matching.

Now Hebbia is going to launch a seemingly crucial part of its system, a new AI-powered search tool, a “neural” search engine, expected to do deep document analysis. The new technology unveiled today can search billions of documents in real-time, including PowerPoints, PDFs, transcripts, and spreadsheets that answer questions like “Which are the largest acquisitions in the supply chain industry within the past five years?”

Hebbia

 

Hebbia’s spokesperson informed TechCrunch, “With Hebbia, you bring your own data, or you search a trusted … primary source repository of data we’ve already indexed for you: earnings transcripts, news, [meeting] minutes, SEC filings, recently passed legislation, scientific research and more. The trust and transparency around what corpus is informing your search results.”

CEO Sivulka’s personal experience inspired the development of the neural search engine. 

Hebbia

 

According to Sivulka, when he was doing his doctoral research, his friends working in finance used to scramble during their hundred-hour workweeks to search thousands of documents. So, he thought of a solution involving AI that could solve the issue or help them streamline some of the included core processes.

However, those were his earlier days of research. Now Sivulka affirms that Hebbia’s new search engine is witnessing its first wave of users among financial services firms. The firms are using the search engine for the due diligence process and other steps covering investment pipelines. Hebbia’s spokesperson further said, “Hebbia currently counts 20 paying enterprises as customers, including several of the world’s largest private equity firms, hedge funds, consultancies, and government projects,” The New York-based company, Hebbia, currently has a workforce size of 15 employees and looks forward to doubling its headcount by the yearend.

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Raulf Hernes

By Raulf Hernes

If you ask me raulf means ALL ABOUT TECH!!

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