Company experienced a 10x increase in platform usage year-over-year and will use capital to accelerate product development and international expansion.

Hyperscience, the automation company, announced its $80M Series D financing round 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, reaffirming their support of the company’s vision to transform business processes through Software-Defined Management.

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.

Many software companies promise to automate manual processes, but struggle to do so reliably, efficiently and at scale. Hyperscience’s technology automates 95% of data entry with over 99.5% accuracy, far surpassing the average industry accuracy rate which hovers around 55%.

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’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. These blocks are purposefully designed document processing functions, such as Classification, Extraction, and Collation, with independent configurability that allow users to convert unstructured input to business outcome.

This funding round will be used to accelerate the development of the Hyperscience Platform, including data validation and unstructured data processing, as well as to build out the partner and channel ecosystem. The company will also significantly grow its international presence to meet accelerated demand with over one-quarter of its business projected to originate in Europe in 2021.

In 2020, Hyperscience was named on the Inc. 5000 list as the ninth fastest growing software company based in New York City and one of the “Best Places to Work” by Built in NYC.