Robotic Process Automation Firm Automation Anywhere raises $300 mn Funding

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The funding as claimed by the company will help in delivering advanced RPA to the market, and will also enable it in taking Artificial Intelligence (AI) to millions

Automation Anywhere, a provider of robotic process automation (RPA) announced that it has raised $300 million from SoftBank Vision Fund. Subject to regulatory approvals, the funding is an expansion to the company’s series A round announced in July.

The company during July 2018 had said that it was able to raise $250 million in funding, led by New Goldman Sachs Growth Equity and Enterprise Associates.

To accelerate digital transformations

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The funding as claimed by the company will help in delivering advanced RPA to the market, and will also enable it in taking Artificial Intelligence (AI) to millions. Praveen Akkiraju, managing partner at SoftBank Investment Advisers mentioning the importance of digital transformations said that SoftBank is excited to partner with Automation Anywhere to accelerate this transformation.

Mihir Shukla, CEO and co-founder, Automation Anywhere said, “RPA is the most pervasive and friction-less path to delivering AI technologies across the enterprise, and is revolutionising the way people work. With this additional capital, we are in a position to do far more than any other provider.”

Bot store

The company also runs a Bot store that offers applications to meet specific automation requirements for common business processes. Applications available on the Bot store are designed by Automation Anywhere and its partner ecosystem.

Clyde Hosein, chief financial officer at Automation Anywhere, said, “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.”

Automation Anywhere specialises in RPA technology. RPA refers to using of software robots (bots) in automating business processes that are otherwise managed by human workers, manually.

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