Demand continues to rise for unique Hyperscience hyperautomation platform, which delivers market-leading accuracy and automation to power enterprise AI initiatives
Hyperscience unveils new solution to unlock GenAI for mission critical enterprise applications
Q1 2024 and Recent Highlights include:
- Largest Q1 new bookings and net new ARR in company history, fueling strong year-over-year ARR growth
- Stellar logo and net dollar retention reported for trailing twelve months
- Hyperscience named a Leader in both the The Forrester Wave™: Document Mining & Analytics Platforms Q2, 2024 report and IDC MarketScape: Worldwide Unstructured Intelligent Document Processing Solutions 2024 Vendor Assessment
New York, NY – June 5, 2024 – Hyperscience, a market leader in hyperautomation and a provider of enterprise AI infrastructure software, today announced strong continued momentum, with record total Q1 2024 ARR, fueling strong year-over-year growth, and stellar customer retention rates. Hyperscience also today announced Hypercell for GenAI, a new solution that transforms complex documents into LLM and RAG-ready data, accurately, automatically, and continuously. The new solution teaches LLMs the language of the customer’s business, based on ground truth documents embedded at the core of the enterprise.
“Hyperscience provides the ideal platform for organizations seeking to start on their AI journey and achieve tangible, proven ROI,” said Andrew Joiner, CEO, Hyperscience. “Hyperscience allows organizations to transform their back office into a strategic engine for growth and productivity, and our record Q1 results and retention rates, as well as our continued expansion with existing clients, proves the value our customers gain through our platform. This is a milestone moment for Hyperscience, and positions us well as we unveil Hypercell for GenAI, a breakthrough approach that provides an indispensable solution for organizations seeking trusted, accurate outputs and experiences for their enterprise AI initiatives.”
Hyperscience continues to win new customers and expand its footprint with existing ones. Customers leveraging Hyperscience include American Express, Charles Schwab, Fidelity, HM Revenue and Customs, Missouri Department of Social Services, Stryker, The United States Social Security Administration, The United States Veterans Affairs, TreviPay, and several others.
Kim Evans, the Director of the Family Support Division at the Missouri Department of Social Services, emphasized the department’s commitment to exceptional customer service. She explained, “With the expansion of Medicaid Missouri, we recognized the need for automation to relieve staff of the manual processes of data entry. By implementing technology that will read the paper documents, extract the information and populate our eligibility system we become more timely and accurate in our service delivery as this frees up staff to process rather than spending time doing data entry.”
Holly Mensendiek, VP of Global Receivables Management, TreviPay, said, “We are excited to continue our longstanding partnership with Hyperscience to streamline the extraction of financial remits from our diverse customer base. By leveraging the innovative Hyperscience Hypercell, we are able to achieve incredible automation and accuracy rates. Our collaboration with Hyperscience underscores our commitment to efficiency and precision in financial operations, allowing us to better serve our customers.”
Technology leadership and product innovation
- Hyperscience today unveiled Hypercell for GenAI, a new solution that automatically annotates, labels, and structures data from documents for fine-tuning LLMs and GenAI experiences, allowing organizations to rapidly and continuously develop highly accurate, relevant and valuable enterprise models. Through a trusted interface, business people can use Hypercell for GenAI to accelerate mission critical workflows, grounded in secure, proprietary data, and tuned to the business.
- Hyperscience launched the Hyperscience Hypercell, an all-in-one enterprise AI infrastructure software platform designed to accelerate transformational AI in the enterprise, where security, compliance, and infrastructure requirements are top priorities.
- Hyperscience also launched Hyperscience R39, which runs on the Hypercell and includes breakthrough model lifecycle management, accelerated automation for highly complex documents, and advanced decisioning capabilities.
Industry accolades and recognition
Hyperscience has secured multiple industry accolades and awards in the last few months:
- Hyperscience Named a Leader in The Forrester Wave™: Document Mining & Analytics Platforms Q2, 2024. Hyperscience received the highest possible score in 10 evaluated criteria, spanning strategy to current offering, indicating “superior” performance relative to the other vendors in the report.
- Hyperscience Named a Leader in IDC MarketScape: Worldwide Unstructured Intelligent Document Processing 2024 Vendor Assessment. According to the report, “Customers and partners give Hyperscience high marks for use case extraction accuracy in production. This high accuracy performance is driven by a myriad of factors including its supervised model training approaches, tooling flexibility, and intuitive workflow building and orchestration capabilities.”
- Hyperscience wins Deep Analysis Innovation Award. Industry analyst firm Deep Analysis recognized Hyperscience for developing a new Visual Document Understanding (VDU) language model, which marks a significant advancement in enterprise data extraction and classification.
About Hyperscience
Hyperscience is a market leader in hyperautomation and a provider of enterprise AI infrastructure software. The Hyperscience Hypercell platform unlocks the value of an organization’s back office data through the automation of end-to-end processes, and transforms complex documents into LLM and RAG-ready data to power new enterprise GenAI experiences. This enables organizations to transform manual, siloed processes into a strategic advantage, resulting in a faster path to decisions, actions, and revenue; positive and engaging customer, public, and patient experiences; and dramatic increases in productivity.
Leading organizations across the globe rely on Hyperscience to drive their hyperautomation initiatives, including American Express, Charles Schwab, Fidelity, HM Revenue and Customs, Mars, Stryker, The United States Social Security Administration, and The United States Veterans Affairs. The company is funded by top tier investors including Bessemer Venture Partners, Battery, FirstMark, Stripes, and Tiger Global.
Media Contact
Jyotsna Grover
(415) 917-7411
jyotsna.grover@hyperscience.com
