SAN JOSE — Automation Anywhere, a developer of Robotic Process Automation (RPA), has completed one of the largest Series A financing rounds of $250 million led by New Enterprise Associates (NEA) and Goldman Sachs Growth Equity with participation from General Atlantic and World Innovation Lab (WiL). The funding brings Automation Anywhere’s post-money valuation to $1.8 billion. This massive investment will help extend Automation Anywhere’s leadership in the rapidly-expanding RPA market and accelerate its global customer engagements and product development.
Automation Anywhere’s enterprise-grade platform uses software bots that work side by side with people to do much of the repetitive work in many industries. It combines sophisticated RPA, cognitive and embedded analytic technologies. Over 1,000 organizations use this AI-enabled solution to manage and scale business processes faster, with near-zero error rates, while dramatically reducing operational costs. Automation Anywhere provides automation technology to leading financial services, insurance, healthcare, technology, manufacturing, telecom and logistics companies globally.
With this investment, Automation Anywhere expects to deepen its customer engagements in North America, LATAM, India, Europe, Australia, Japan, South Korea and Singapore (ASEAN), and plans to deploy its technology in additional geographies. Building on its core product offerings, Automation Anywhere’s customers will further benefit from specialized machine learning capabilities and sophisticated Artificial Intelligence (AI) integrations to drive higher operational efficiency, increased agility and flexibility to scale up-and-down anytime, all with robust security.
“Customers tell us that traditional process automation technologies are capable of automating only about 20 percent of an enterprise’s business processes. We believe our Intelligent Digital Workforce Platform can automate up to 80 percent of these processes. It’s a stark contrast and an enormous opportunity,” said Mihir Shukla, CEO and Co-Founder of Automation Anywhere. “The financing and our high caliber of investors strongly position us to push boundaries and drive the next major business disruption. Our investors recognize the enormous RPA market potential, and our Series A financing at a $1.8 billion valuation is an acknowledgement of the company’s strong leadership, stability and growth prospects.”
“Automation Anywhere has demonstrated tremendous progress within the RPA landscape,” said Scott Sandell, Managing General Partner of NEA. “NEA has a 40-year history of identifying disruptive technologies, and we are confident that Automation Anywhere is poised for long-term success. This funding allows the company to accelerate global expansion and advance its product roadmap, and we are thrilled to partner with the Automation Anywhere team to bring the power of RPA to customers across all industries.”
“With more than 1,000 global customers, Automation Anywhere is the leader in the RPA space and we are pleased to join them in their next phase of expansion,” said John Giannuzzi, a Vice President in Goldman Sachs’ Merchant Banking Division.” As more businesses continue to streamline their manual processes, Automation Anywhere has the vision and solutions to drive unprecedented levels of business performance with their Intelligent Digital Workforce Platform across all vertical markets.”