Intelligent document and process automation company Hyperscience today announced it raised $100 million in a series E funding round.

The company had previously raised $188.9 million over eight rounds, according to Crunchbase. New York-based Hyperscience declined to reveal its current total valuation.

The latest funding round was led by existing investors Global Founders Capital, Tiger, Stripes and Bessemer. The money will allow the almost 400-person company to hire additional employees and invest in research and development.

Specifically, the company will develop support for more languages and different modalities of content such as voice and images, Charlie Newark French, chief operating officer at Hyperscience, told Bank Automation News.

“As Hyperscience continues to grow, we are looking for ways to both accelerate adoption and feed the demand for our technology,” French said. “The logical next step is to continue to invest in our product and deliver on our long-term strategy.”

The platform leverages machine learning technology to translate documents into data and automate tasks.

“Hyperscience automates tasks and also automates the identification of tasks that require human intervention, which augments humans with time and higher quality data,” French said.

The platform can be used to expedite mortgage processing, he told BAN in March.

“We can speed up throughput by 10 times whilst also reducing clerical errors or increasing accuracy by decreasing errors by two thirds,” French said. “Our perspective is we solve the exact same problem as RPA but we solve it in a very, very different way. Where RPA uses a very rules-based heavy approach, we use machine learning.”

The funding round comes just two weeks after Hyperscience acquired Berlin-based Boxplot, a startup that provides a graph data modeling tool that allows users to create data visualizations in which each piece of data is linked to other pieces of data.

For example, when processing a claim, it’s important to retrieve the claimant’s policy. That claim needs to be linked to a person, who is in turn linked to a policy. The same principle could apply to mortgages.

“Many customers currently perform that lookup manually by diving in and out of different systems of record,” the company said in a release. “Boxplot will provide the backplane for business process interoperability, while simultaneously making Hyperscience a system of record that delivers a cross-organizational view of data.”

That will support further automations and improve the performance of machine learning, the company added.

IT research firm the Everest Group categorizes Hyperscience as an IDP solution. IDP typically leverages a combination of technologies, such as optical character recognition, machine learning, robotic process automation (RPA) or deep learning to extract data from unstructured forms, such as invoices or contracts.

Hyperscience was “a major contender” in Everest’s ranking of 28 players in the space, with the leaders being ABBYY, AntWorks, Automation Anywhere, IBM, Kofax and WorkFusion, analyst Anil Vijayan, of Everest, told BAN.

Among Hyperscience’s customers are broker TD Ameritrade, financial, retirement, investment and insurance company Voya Financial, insurance company Mutual of Omaha, and global wealth management and asset management advisory services firm CI Financial.

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