Hyperscience just announced that it raised $100 million in fresh funding, proving once again how valuable the business automation space is becoming. The Series E round was led by a who’s who of notable investors, including Tiger Global, Bessemer, Stripes and Global Founders — all of whom have backed Hyperscience before.
Founded in 2014, Hyperscience touts itself as a “human-centered automation” company combining data and people in order to turn mundane office work, like data entry and client onboarding, into “digital assembly lines.”
Of course, as businesses become more digital than ever before, services like Hyperscience’s and others have been in hot demand. Business automation giant UiPath, for instance, hit a whopping $35 billion valuation earlier this year following months of rapid growth. And Akkio, a newer startup in this space, got a $3 million seed investment from VC heavyweight Bain Capital.
Meanwhile, Hyperscience has raised money pretty steadily for the last 18 months, closing a $60 million Series C in the summer of 2020 and then an $80 million Series D four months later. It has also grown its team by about 70 percent over the last year, bringing its global headcount to some 400 employees. About 120 of those employees are here in NYC and Hyperscience is looking to grow its local headcount even more, with dozens of open tech positions available now.
This fresh funding will also be used to fuel its international expansion and further develop the platform, especially as demand for business automation continues to grow.
“The rise in unstructured data has created a rapidly growing gap between strategic questions and quick answers along the decision-making process,” Hyperscience CEO Peter Brodsky said in a statement. “This infusion of capital will help us support more languages geographically, as well as different types of content and modalities beyond just language, such as voice and images.”
