"Artificial intelligence is coming for investment banking, and when I heard that there was a startup generating buzz throughout Silicon Valley for streamlining the day-to-day tedious work in fields like finance, consulting and law - I had to see it with my own eyes. The company, Hebbia, offers financial services firms a variety of AI-enabled tools designed to deepen and speed up their work. Founded in 2020, it's gone on to pick up clients like KKR, T. Rowe Price, and Permira,"
"Tom Reeson Price, vice president of sales, told me that "hundreds" of Hebbia seats are held by sell-side bankers, though the buy side remains its largest market. Hebbia declined to share which banks are using its tools. "It doesn't make sense for every firm to spend $10 to $20 million, or even $5 million, on an internal build when you have venture-backed startups that are serving 150 clients like ourselves," founder Geroge Sivulka told me in an interview."
Hebbia provides AI-enabled tools that accelerate and deepen analysis and routine workflows in investment banking, asset management, consulting, and law. Founded in 2020, the company counts clients including KKR, T. Rowe Price, and Permira and raised $130 million in a Series B from Andreessen Horowitz, Google Ventures, and Peter Thiel. The firm positions its product as a cost-effective alternative to expensive internal builds, with hundreds of sell-side seats and a larger buy-side user base. The founder left a Ph.D. program to launch the startup. Specific customer lists and pricing remain undisclosed.
Read at Business Insider
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