Many software companies promise to automate manual processes, but struggle to do so reliably, efficiently, and at scale. Enter Hyperscience, a New York-based tech startup that provides enterprise automation to over 2000 global and government organizations around the world. Hyperscience’s technology automates 95% of data entry with over 99.5% accuracy, far surpassing the average industry accuracy rate which hovers around 55%.
Today, Hyperscience announced its $80M Series D financing round. The round, which brings the company’s total funding to $190 million, was led by Tiger Global, with participation from new investor BOND, bringing the company’s total funding to $190 million. Bessemer Venture Partners and all existing major investors participated in the round. The capital infusion follows Hyperscience’s $60 million Series C funding announced in June 2020, which came on the heels of 3x year-over-year revenue growth.
Founded in 2014 by Krasimir Marinov, Peter Brodsky, Vladimir Tzankov, Hyperscience’s software-defined input to outcome automation platform is used by the global 2000s and government organizations around the world to build and run mission-critical processes. Over the years, Hyperscience’s technology has evolved through Software-Defined Management (SDM) principles, which deliver horizontal, end-to-end automation, and challenge existing enterprise automation approaches. The Hyperscience Platform allows businesses to use a combination of horizontal, stackable blocks and workflows to build vertical solutions that automate business processes, such as claims processing and loans origination.
“The ground beneath the feet of technology leaders has forever changed,” said John Curtius, Partner, Tiger Global. “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.”
“The glaring problem with legacy technology is that it builds upon broken business processes. Without fixing these underlying processes, effective automation is impossible,” said Peter Brodsky, Hyperscience’s CEO, and co-founder.
Clients who choose Hyperscience are using the company’s automation technology to completely revamp how they use data, make business decisions, and structure their operations. And now they are looking to do more.
“Hyperscience has been accelerating its growth, and we are more motivated than ever to provide our customers with a solution that will power better business outcomes – and consumer experiences – than what’s currently available,” Brodsky continued. “With our world-class team and this recent raise, Hyperscience is on track to become a global leader in business automation.”