Hyperscience, the US-based automation technology provider that counts insurance firm QBE and retail brokerage TD Ameritrade as investors, secured $80m yesterday in a series D round led by investment firm Tiger Global Management.
The round included Bond, fellow venture capital firm Bessemer Venture Partners (BVP) and all the company’s ‘major’ existing investors, it said, adding that it has now raised more than $190m since it was founded in 2014.
Hyperscience’s software automates back-office tasks, enabling companies to streamline activities such as fulfilling customer requests that require paperwork, or processing insurance claims.
The company will channel the series D funds into international expansion and improving the data validation and unstructured data processing capabilities of its Hyperscience Platform.
The round came just four months after a $60m series C round led by BVP and backed by consulting firm Penna and Company, Tiger Global, FirstMark Capital, Battery Ventures, Gaingels, Stripes Group, Felicis Ventures and 3KVC.
QBE and TD Ameritrade took part in Hyperscience’s $30m series B round in January 2019, alongside Stripes Group, which led the round, Battery Ventures, FirstMark Capital, Felicis Ventures and Global Founders Fund.
FirstMark Capital and Felicis Ventures joined existing backers Slow Ventures, Box Group, Third Kind Ventures, AME Cloud Ventures and Acequia Capital to provide $18m in series A funding for the company in 2016 before corporate VC unit QBE Ventures added an undisclosed amount in mid-2018.
