SAN JOSE – The money keeps flowing from Softbank.
Automation Anywhere, a developer of Robotic Process Automation (RPA), has raised $300 million from the massive SoftBank Vision Fund. The funding is an expansion to the company’s $250 million 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.
The Softbank Vision Fund has pumped millions of dollars into various companies including View Glass, Uber, Doordash, NVIDIA, WeWork, Zume Pizza and Compass.
“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 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
“Successful 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,” said Clyde Hosein, Chief Financial Officer at Automation Anywhere. “With 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 customers’ problems in innovative new ways.”