- Hyperscience is a developer of next-generation intelligent document processing solutions for the enterprise. Here are some of the milestones that the company saw in 2019.
Hyperscience is a developer of next-generation intelligent document processing solutions for the enterprise. Recently, the company announced its key milestones in 2019, which includes raising $30 million in Series B funding and a tripling of its customer base.
The company also expanded its partner ecosystem and doubled its team. Now the company is also on track to achieve its international expansion goals with the opening of its second European office in London.
Hyperscience’s accelerated growth is largely driven by the increased need for foundational automation solutions that can handle diverse document and data types as well as eliminate manual processes and free up employee capacity to focus on customer needs.
“We are seeing great success because we solve one of the most pressing problems an enterprise has today,” said Hyperscience COO Charlie Newark-French. “Enterprises run on data collected through a myriad of sources and formats, which enables them to extract key insights to unlock efficiencies and stay competitive. Unfortunately, companies are spending over $60 billion each year in order to convert documents into formats that can be read by various systems. Our intelligent document processing solution automates this process and also lays the groundwork for greater downstream AI, analytics and strategic digitization initiatives.”
Hyperscience’s customers experience as much as a 67% decrease in error rates and a 10-fold increase in processing capacity. And since June 2019, Hyperscience has expanded its partnership base to include leading Robotic Process Automation (RPA) providers UiPath and Blue Prism as well as top strategic advisory and Systems Integrator (SI) firms. Plus Hyperscience complements these companies’ initiatives, helping customers unlock and access data from unstructured document types (e.g. PDFs, images, and more) and to promote continuous improvement initiatives.
Hyperscience also added over 85 new employees across all functions, including R&D, sales, marketing, and operations. Last year, Hyperscience also expanded its leadership team to include executives with extensive enterprise technology, SaaS and domain expertise, including Manya Ellenberg as Vice President of People, Charlie Newark-French as Chief Operating Officer, Jon-Marc Patton as Vice President of Customer Success, Nelly Rinot as Vice President of Marketing, Bill Strogis as Vice President of Worldwide Sales, and Luke Surazski as Vice President of Engineering.
“I am especially proud of our ability to attract experienced and accomplished individuals who feel at home at Hyperscience,” explained Peter Brodsky, CEO and co-founder, Hyperscience. “In the past year, we have added individuals who will help lead the company’s next phase of growth and product leadership. This is one of our most significant achievements and it will continue to have an impact on our mission, growth, and people.”
Hyperscience is going to continue its market leader position in 2020, including expanding its customer base in North America and EMEA and building out its team. And the company also plans to announce the next evolution of the Hyperscience platform in the second half of the year, including new capabilities and improvements to its Intelligent Document Processing solution.
