HyperScience, a NYC-based edge machine learning company offering enterprise-grade solutions for automating office work at scale, raised $30m in Series B funding.
The round, which brought total funding to $50m, was led by Stripes Group, with participation from existing investors FirstMark Capital and Felicis Ventures as well as new investors Battery Ventures, Global Founders Fund, TD Ameritrade and QBE.
The company intends to use the funds to further invest in engineering and product development, sales and marketing, and expand the team across all functions.
Led by CEO Peter Brodsky, HyperScience provides large organizations across industries such as Insurance, Financial Services, Healthcare, and Government with solutions for automating the transcription of human-readable documents into machine-readable data easing such works as data entry, invoice processing, and data reconciliation.
Last year, the company announced an investment and partnership with QBE, whereby QBE entered into a multi-year commercial use agreement to roll out HyperScience solutions across the company globally. TD Ameritrade also signed a multi-year commercial agreement with HyperScience in 2018 and subsequently participated in the round.