Automation Anywhere Raises $300 Mn from Softbank Vision Fund At $2.6 Bn Valuation

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Indian-American founded “software bots for enterprises” firm Automation Anywhere has announced that it has raised $300 million from the SoftBank’s tech-focused Vision Fund bringing the company’s valuation to $2.6 billion.

Based out of California, US, Automation Anywhere had earlier raised $250 million in Series A funding in July and with this fresh funding from Softbank, the company’s total financing is now over $500 million.

“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 Artificial Intelligence (AI) to millions,” said Mihir Shukla, CEO and Co-Founder at Automation Anywhere.

The latest funding is subject to regulatory approvals and satisfaction of other customary closing conditions and is an expansion to the company’s series A round.

Founded in 2003, by Mihir Shukla, Ankur Kothari, Neeti Mehta, and Rushabh Parmani, Automation Anywhere is a provider of Robotic Process Automation (RPA), a technology that refers to use of software robots (bots) to automate business processes that are currently managed manually by human workers.

RPA or ‘Software Bots’ are digital workers which can complete mundane tasks, and also tackle more complicated problems as well. RPA enables companies to automate business processes, increasing productivity and enabling people to focus on more challenging and fulfilling work.

Automation Anywhere offers a complete suite of products capable of automating business processes at scale.

“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,” added Praveen Akkiraju, Managing Partner at Softbank Investment Advisers.

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According to Automation Anywhere, it has about 1,500 enterprise customers including General Motors, Mastercard, and LinkedIn. They use its software to automate processes in functions ranging from supply-chain logistics to accounting.

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.

Following its Series A funding in July, Automation Anywhere announced it has so far this year established nine new locations based in Amsterdam, Frankfurt, Miami, Paris, Seoul, Tokyo, Toronto, Warsaw and Washington, DC.

These new locations bring the company’s total number of global offices to 19, including four others in the US, three in India, and one each in London, Melbourne and Singapore, Automation Anywhere said in a statement on Wednesday.

Automation Anywhere has 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. Additionally, the company has also announced that its enterprise solution would soon be available in traditional Chinese, simplified Chinese, French, German, Japanese, Korean and Spanish.

Source: IndianWeb2

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