RPA firm Automation Anywhere secures $250mn in Series A financing
Automation Anywhere, an innovative player within the Robotic Process Automation (RPA) sphere, has revealed that it has completed a $250mn funding round led by New Enterprise Associates (NEA) and Goldman Sachs Growth Equity.
The firm provides businesses with a platform and the tools necessary to build digital workforces, creating automated processes that work alongside humans to reduce time constraints and improve the efficiency of repetitive processes and operations.
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“Customers tell us that traditional process automation technologies are capable of automating only about 20% of an enterprise’s business processes,” said Mihir Shukla, CEO and Co-Founder of Automation Anywhere. “We believe our Intelligent Digital Workforce Platform can automate up to 80% of these processes. It’s a stark contrast and an enormous opportunity.”
As claimed by Automation Anywhere, the figure marks the Series A round as one of the largest of its kind for an enterprise software company to date, giving the firm a $1.8bn valuation.
The investment will be used to help Automation Anywhere to expand its presence within the fast-growing RPA market, accelerating its global reach and product development.
“With this investment, we are poised to extend our leadership in the multibillion-dollar RPA market,” said Clyde Hosein, CFO of Automation Anywhere. “We welcome the new investor group and look forward to their valuable contributions as we enter our next growth phase.”