Hyperscience Raises $80 Mn In Series D Round Led By Tiger Global
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Hyperscience, an automation technology company on Monday announced that it has raised $80 million in a Series D round led by Tiger Global along with the participation of BOND - a global technology investment. Apart from these, Bessemer Venture Partners and other existing investors too participated in the investment round, bringing the total funding to $190 million.
The capital infusion comes just after four months of it raising $60 million in Series C round.
The company will utilize the fresh funds 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.
Commenting on the startup, Peter Brodksy, chief executive offer (CEO) and co-founder said, “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.”
“With our world-class team and this recent raise, Hyperscience is on track to become a global leader in business automation,” he further added.
Founded in 2014, Hyperscience’s automation technology has been helping data-centric companies parse through vast amounts of unstructured inputs and raw information to get to swifter and smarter business outcomes. The company claims that its technology solution automates 95 per cent of data entry with over 99.5 per cent accuracy.
Commenting on the investment, John Curtius, partner, Tiger Global, said, “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.”
Elliott Robinson, partner, Bessemer Venture said, “I am confident that Hyperscience will be the company to power enterprise automation at scale, transforming how organizations operate and serve their clients and employees for the better.”
The company, this year was also named in Inc.5000 list as the ninth fastest software growing New York-based company and was also called one of the ‘Best Places to Work.’