Automation FinTech Hyperscience closes its second series round of 2020

Automation software developer Hyperscience has closed its Series D round on $80m to take advantage of on its three-times year-over-year growth.

Tiger Global led the investment, with contributions also coming from BOND, Bessemer Venture Partners and all of Hyperscience’s existing major investors.

The investment comes hot off the heels of the FinTech’s Series C round, which closed on $60m in June 2020. This funding surge has been supported by a three-times year-over-year revenue growth.

Hyperscience COO Charlie Newark-French said, “2020 has been a year of unprecedented change for our customers, and we’ve seen 10x increase in platform usage as a result.

“We are proud of our recent growth but even more excited about what the future holds. Hyperscience will enable the largest multinational organizations, financial institutions and government agencies to transform operations, rather than put band-aids on existing fragile processes, ultimately resulting in substantially better outcomes for our customers’ customers.”

Capital from the round will enable Hyperscience to accelerate the development of its technology, including the data validation and unstructured data processing capabilities. It will also empower the FinTech to advance its partner and channel ecosystem.

Plans are in place for Hyperscience to increase its international presence in Europe next year.

Founded in 2014, Hyperscience enables data-centric companies to automate various processes to drive efficiency. Financial services use the platform for processes such as document processing, account opening, account maintenance, lending and mortgage processing and receivables.

Bessemer Venture Partners partner Elliott Robinson said, “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.

“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.”

This investment brings Hyperscience’s total equity raised to $190m.

Copyright © 2020 FinTech Global

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