HyperCam is primarily intended for creating software presentations, tutorials, demonstrations, walkthroughs, and other various tasks the user wants to demonstrate. The latest versions also capture overlay video and can re-record movies and video clips (e.g. recording videos playing in Windows Media Player, RealVideo, QuickTime, etc.). Beginning with version 3.0, HyperCam also includes a built-in editor for trimming and merging captured AVI, WMV, ASF files.
The unregistered versions of HyperCam 2 and HyperCam 3 apply a digital watermark to the upper-left corner of each recorded file and will ask the user to register on every startup. Base registration, which costs $39.95, will eliminate this watermark.
Hyperionics has now made HyperCam 2 a permanent free download, saying that it now has a free license for "worldwide use".