Five months after it raised a Series A round led by Goldman Sachs and NEA, Automation Anywhere, the leader in Robotic Process Automation (RPA), raised $300 million from the SoftBank Vision Fund, late Thursday night.
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.
RPA enables companies to automate business processes. By automating routine tasks in the workplace, RPA is increasing productivity and enabling people to focus on more challenging and fulfilling work.
“RPA is the most pervasive and frictionless path to delivering AI technologies across the enterprise, and is revolutionizing the way people work,” said Mihir Shukla, CEO and Co-Founder at Automation Anywhere.
With the $300 million SoftBank investment, our capacity to impact your business is unlike any other in the #RPA industry. The Digital Workforce will become the gateway to making #AI pervasive. https://t.co/zL8Uxto8CP pic.twitter.com/vgK3c1Wi8q
— Mihir Shukla (@MihirAndNow) November 16, 2018
“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.”
“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,” says 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 optimizations for customers.”
Automation Anywhere opened its Bot Store, the industry’s largest 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 organization. It has been visited by more than 65,000 users since its launch in March 2018
The financing builds on an exceptional year for Automation Anywhere, which saw a rapidly growing roster of marquee customers and key executive appointments globally.
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