According to Techub News, Bloomberg reported that AI startup Hebbia has completed $130 million in financing at a valuation of $700 million, led by a16z, with participation from Index Ventures, Google Ventures and billionaire Peter Thiel. This round of financing will be used for research and hiring more software engineers.

Founded in 2020, Hebbia uses AI technology to help companies screen various documents to answer complex questions. Its customers include the US Air Force, asset management companies and legal services companies.