HyperScience is designed to cut down on the tedium of mundane tasks, like filling out forms or data entry of handwritten forms. It also processes the relevant information from forms rather than requiring that a human read through the whole form. It touts itself as intelligent document processing. Powered by machine learning, Hyperscience’s platform makes document processing customizable. Companies can use it to automate processes, as the AI-based software classifies and extracts information from documents and allows for tailored workflows.
It has raised $289 million in funding so far, but it has not announced any plans to go public. However, some of its competitors, such as Cohesity and Via, have filed for IPOs recently.