Automation Anywhere rises $300 Million from SoftBank Vision Fund
Automation Anywhere, a platform provider for Robotic Process Automation (RPA), has raised $300 million from the SoftBank Vision Fund. The funding is subject to regulatory approvals and satisfaction of other customary closing conditions and is an expansion to the company’s Series A round announced in July, bringing the financing to over $500 million.
“With more than $500 million in capital from the Series A round, we believe we have the strongest balance sheet in the industry and are well positioned to continue to solve our customers’ problems in innovative new ways,” said Clyde Hosein, Chief Financial Officer at Automation Anywhere.
The financing builds on an exceptional year for Automation Anywhere, which saw a rapidly growing roster of marquee customers and key executive appointments globally.
“With this additional capital, we are in a position to do far more than any other provider. We will not only continue to deliver the most advanced RPA to the market, but we will help bring AI to millions. Like the introduction of the PC, we see a world where every office employee will work alongside digital workers, amplifying human contributions. Today, employees must know how to use a PC and very soon employees will have to know how to build a bot,” said Mihir Shukla, CEO and Co-Founder at Automation Anywhere. “RPA is the most pervasive and frictionless path to delivering AI technologies across the enterprise, and is revolutionising the way people work.”
“Enterprises of all sizes are in the midst of a major transition to digital platforms and we are excited to partner with Automation Anywhere to accelerate this transformation,” said Praveen Akkiraju, managing partner at Softbank Investment Advisers. “We believe that Mihir and team bring a clear vision, a strong technology platform and a passion for delivering real value and cost optimisations for customers.”
“Successful companies are defined by both vision and execution. We continue to make important investments in both as we expand our product suite and global reach at a rapid pace,” said Clyde Hosein, Chief Financial Officer at Automation Anywhere.
Automation Anywhere opened its Bot Store, an app store-like marketplace of downloadable bot applications that are designed by the company and its partner ecosystem to meet specific automation requirements for common business processes. The Bot Store increases the speed and simplicity in deploying bots at enterprise scale, for any size organisation. It has been visited by more than 65,000 users since its launch in March 2018.
Automation Anywhere offers a suite of products capable of automating business processes at scale : its foundational Enterprise RPA platform, its AI product, IQ Bot, and Bot Insight (a predictive analytics capability embedded into bots).
