Hebbia, an artificial intelligence startup, has raised $130 million to develop an "AI analyst" that helps businesses process documents and analyse complex data.

CEO George Sivulka explained that, unlike chatbots limited to simple tasks, their technology is designed for complex tasks, with the ability to perform end-to-end work.

Hebbia's valuation would be around $700 million after the deal. The company now works with a third of the 50 largest asset managers and plans to use the funds raised to become the undisputed leader in generative A.I. in the financial and legal sectors. In 18 months, it has increased its turnover by a factor of 15, reflecting considerable growth.

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