Automation Anywhere, the leader in Robotic Process Automation (RPA), on Friday announced it 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 companyâ€™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.
â€śRPA is the most pervasive and frictionless path to delivering AI technologies across the enterprise, and is revolutionizing the way people work,â€ť said Mihir Shukla, CEO and Co-Founder at Automation Anywhere. â€śWith 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.â€ť
Automation Anywhere is the only RPA provider that offers a complete suite of products capable of automating business processes at scale. Together, its foundational Enterprise RPA platform, its AI product, IQ Botâ„˘, and Bot Insightâ„˘, a predictive analytics capability embedded into bots, are the industryâ€™s most robust and scalable platform for delivering an Intelligent Digital Workforce.
â€śEnterprises 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,â€ť 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 optimizations for customers.â€ť
Automation Anywhere opened its Bot Store, the industryâ€™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 organization. It has been visited by more than 65,000 users since its launch in March 2018.
â€śSuccessful 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,â€ť said Clyde Hosein, Chief Financial Officer at Automation Anywhere. â€śWith 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 customersâ€™ problems in innovative new ways.â€ť
The financing builds on an exceptional year for Automation Anywhere, which saw a rapidly growing roster of marquee customers (some of which can be seen here) and key executive appointments globally.