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According to an official statement on Monday, Softbank-backed Automation Anywhere has raised $200 million in a latest financing round by Silicon Valley Bank, SVB Capital, and Hercules Capital. In India, Automation Anywhere has a global office in Bengaluru, KA.
The Robotic Process Automation (RPA) firm claims that the capital infusion is intended to ‘provide the California-headquartered software company operational and strategic capital for the next several years’.
Previously, Automation Anywhere had raised $290 million led by Salesforce Ventures with an overall valuation of $6.8 billion. The round also witnessed participation from investors such as Goldman Sachs, General Atlantic, and New Enterprise Associates.
CEO and co-founder Mihir Shukla, Automation Anywhere, said, “We continue to be optimistic about the near-term opportunities for Automation Anywhere, as more companies scale automation and use the flexibility of our cloud platform to mitigate the impact of global events and navigate market challenges.”
Based on an estimate by Gartner, the company stated that automation could result in a $15 trillion benefit to the global economy by 2030. Automation Anywhere cloud customers have run an estimated 50 million automations, with leading firms deploying thousands of bots across their organisations this year.
Reports claim that automation budgets are dramatically increasing, with over 77% of organisations indicating priority for boosting their automation budgets in the year ahead.
James Budge, Chief Financial Officer, Automation Anywhere says, “This partnership and financing with Silicon Valley Bank and Hercules Capital, complements an already strong balance sheet, and allows us to continue to invest in and enhance the best cloud-native automation platform in the marketplace today,”
Founded in 2003, Automation Anywhere is a US global software firm that develops robotic process automation software. A form of business process automation technology, Robotic process automation (RPA) is based on software robots (bots) or on artificial intelligence (AI) and digital workers.
