HyperScience has come out of the stealth holding a bag of money. The New York startup has raised an $18 million Series A round from new investors FirstMark Capital and Felicis Ventures and existing seed investors Third Kind Venture Partners, AME Cloud Ventures, Slow Ventures, SV Angel, Acequia Capital and Box Group.
HyperScience uses machine learning—specifically computer vision and image recognition—to solve data processing for clients; in other words, automating the most tedious of human tasks with bots.
“At HyperScience, we believe that large enterprises present an untapped ocean of opportunity for AI and machine learning applications,” the company says. “That’s the opportunity we are pursuing: to help large enterprises perform business-critical functions better, faster, and cheaper, through artificial intelligence.”
The company has a few products. There is HS Forms, which enables organizations to process handwritten forms into digital text, and HS FreeForm, which helps filter through volumes of content to determine a document’s intended workflow. There’s also HS Evaluate, which is designed to look at the language of a claim, say for insurance or doctor purposes, and determine who qualifies.
“Over the last few years, we have been working on developing and deploying AI technology to solve these types of vexing problems,” the startup said. “Until today, we have not spoken much about what we do but the time has now come to be more public.”
HyperScience was cofounded by Peter Brodsky, Vladimir Tzankov, and Krasimir Marinov.