Hyperscience, a New York-based automation company, raised US$ 80M in a Series D financing round on 19 October 2020. The company’s total funding stands at US$ 190M.
The funding round was led by Tiger Global. Other participants included new investor BOND Bessemer Venture Partners and all existing major investors, reaffirming their support of the company’s vision to transform business processes through Software-Defined Management. The US$ 80M Series D is followed by Hyperscience’s US$ 60M Series C funding announced in June 2020.
Founded in 2014 by Peter Brodsky, Krasimir Marinov and Vladimir Tzankov, Hyperscience modernizes mission-critical processes and operations for Global 2000 organizations and governments. Its automation technology has helped data-centric companies parse through huge amounts of unstructured inputs and raw information to get swifter and smarter business outcomes. The Hyperscience Platform is empowering enterprises to transform their operations and drive operational efficiency as well as human productivity by fully unlocking the power of their data. The company has a global footprint with offices in New York City, Sofia, Bulgaria, and London, UK.
“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.
Hyperscience’s technology has evolved through Software-Defined Management principles, delivering horizontal, end-to-end automation, and challenging existing enterprise automation approaches. Businesses can use a combination of horizontal, stackable blocks and workflows to build vertical solutions that automate business processes, such as claims processing and loan origination.
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.
What Investors have to say
“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.”
“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,” said Elliott Robinson, Partner, Bessemer Venture Partners. “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.”
About Tiger Global
Tiger Global Management is an investment firm that deploys capital globally. Its investments focus primarily on the global internet, software, financial technology, consumer and industrial sectors. Its private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. It has invested in Spotify, Harry’s, Warby Parker, Peloton, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar, Ola and Flipkart. Tiger Global Management was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.
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