![]() ![]() We sell our offering directly and alongside our ecosystem of partners as a subscription license. ![]() We target top public companies and major government entities around the world, and our solution today addresses a nearly $60B market. ![]() Hyperscience is currently used by some of the world’s leading financial services, insurance, healthcare, and government organizations, including TD Ameritrade, QBE, and Voya Financial. What market does Hyperscience target and how big is it? Through Software-Defined Management, decisions are made quickly, based on the most accurate data available, and by the most suitable and knowledgeable resource. Robotic Process Automation (RPA) is used by many legacy business platforms and is focused on imitating current processes – it pushes the buttons and pulls the levers of an existing underlying system. We believe that data should flow freely between organizations. We set out to deliver machine learning to the enterprise, and when I go back to our earliest ambitions, automating data entry really paved the way for where we wanted to get to today, which is SDM. We knew we weren’t the only ones facing this challenge, and we also wondered how large companies dealing with a global shortage of engineering talent were solving ETL at scale. It requires high levels of domain expertise and delivers low levels of job satisfaction. At the time, we had spent the better part of a decade working on machine learning projects for different companies, which at the time amounted to a lot of manual data entry/manipulation. I was running an engineering team at SoundCloud in 2013 when my two cofounders, Krasi and Vlad, and I first got the urge to automate some of our old jobs away. We’re calling it Software-Defined Management and will be sharing more later this year when the next-generation of the Hyperscience Platform is available to all our customers. Being able to understand the data has enabled us to deliver a broad spectrum, input-to-outcome automation solution for many business processes. Over the last three years, we’ve automated most of step zero through our Intelligent Document Processing (IDP) solution, helping enterprises lower costs, reduce error rates by 67%, increase employee capacity by 10x and elevate customer experience. ![]() That step of getting data into the system is the critical step zero in many business processes. Manual data entry solves the problem of reformatting data from different sources to make it fit the arbitrary format requirements of companies’ systems of record. Tell us about the product or service that Hyperscience offers. Stripes, FirstMark Capital, Battery Ventures, Felicis Ventures, Gaingels, Penna & Company, and 3KVC also participated in this round. We secured a $60M Series C financing round led by Bessemer Venture Partners with major investment by Tiger Global, bringing our total funding to $111M. Who were your investors and how much did you raise? Hyperscience has offices in NYC, London, and Bulgaria with approximately 140+ employees. Hyperscience has grown 300% year over year and raised a total of $108.9M across five rounds. This Intelligent Document Procession Solution reduces error rates by 67% and has attracted the attention of varied enterprises in financial services, insurance & healthcare, and government such as TD Ameritrade, QBE, and Voya Financial.ĪlleyWatch caught up with CEO and Cofounder Peter Brodsky to learn more about Hyperscience and its exponential growth. Hyperscience’s machine learning platform locates disparate information from sources that include forms, invoices, or paystubs and transforms them into official, prepared documents like life insurance applications or medical exam questionnaires. Hyperscience is the automation solution built to streamline enterprise business processes, going far beyond the elimination of manual data entry. The future of work is impossible to discuss without acknowledging the critical role automation will play. ![]()
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