Announcing Our Series D

By: Hyperscience
Published: October 16, 2020

We are thrilled to announce our $80 million Series D round, led by Tiger Global, with participation from new investor BOND. This comes just five months after our Series C raise and brings our total funding to $190 million. Thank you to all our existing investors, including Bessemer, FirstMark and Stripes, as well as newcomers, for their continued support. 

This milestone follows 3x year-over-year revenue growth and a 10x increase in platform usage, reaffirming the need – and potential – to transform business processes through Software-Defined Management

The ground beneath the feet of technology leaders has forever changed. With the constantly moving business landscape, Hyperscience is well-positioned to advance automation and overcome the limitations of legacy technology approaches. As organizations come to embrace a software-defined solution, there will be a future where they will be more resilient when faced with the unexpected.

John Curtius, Partner, Tiger Global

As a company, we have never been more motivated – or committed – to providing our customers with an automation platform that builds and powers better business outcomes – and consumer experiences – than existing solutions.

With this recent raise and our world-class team, we will continue building on our momentum and working to become the leading automation company in the world.

What it means for Hyperscience

This funding will be used to fuel continued innovation and to accelerate the development of the Hyperscience Platform, which will be generally available early next year. It will also allow us to build out our partner and channel ecosystem and significantly grow our international presence to meet increased demand.

Our technology has evolved through SDM principles, which deliver horizontal, end-to-end automation, and challenge existing enterprise automation approaches.

With Hyperscience, businesses can use horizontal, stackable blocks and workflows to build vertical solutions that automate key business processes such as claims processing, underwriting, loans origination, and procure-to-pay. Blocks are purposefully designed document processing functions (e.g. Classification, Extraction, and Collation) with independent configurability that allow users to convert unstructured inputs into business outcomes with human-in-the-loop functionality built in. 

In this new digital assembly line, decisions can be made quicker, based on the most accurate data available, and by the most suitable and knowledgeable resource. 

Data automation is step zero of any business process and this is Hyperscience’s competitive edge. Coupled with cutting-edge Machine Learning models they’ve built over the years, their technology is outpacing competitors by a landslide.

– Elliott Robinson, Partner, Bessemer Venture Partners

In a software-defined world, business processes become measurable, scalable and automated by humans and machines working in tandem. This streamlines manual processes, removes unnecessary management overhead, and increases the quality of business decisions, leading to performance-driven organizations with superior outcomes.

Looking Ahead

This is another step forward in our long-term mission, none of which would be possible without our exceptional team. People are the foundation of this company, and we continue to invest in and hire top talent across all departments and remote offices around the world.

We would not be here without our existing customers and partners. Thank you for your ongoing trust and partnership in helping us build ever-evolving products that help improve your customers lives for the better.

We are proud of our recent milestones but even more excited about what the future holds, and we look forward to having you join us on this ride! 

Related: Automation Startup Hyperscience Raises $80 Million via The Wall Street Journal

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