Automation Anywhere, a noted company in the robotic process automation (RPA) field announced that they had completed their Series A financing round of $250 million led by New Enterprise Associates, Goldman Sachs Growth Equity; with participation from General Atlantic and World Innovation Lab. This investment has brought the company’s post-money valuation to $1.8 billion.
A statement published by Automation Anywhere claims that this is one of the largest Series A rounds on record for an enterprise software company.
This sizable investment will help extend the company’s leadership in the rapidly-expanding RPA market and accelerate its global customer engagements and product development.
Mihir Shukla, CEO and co-founder at Automation Anywhere said in a statement, “Customers tell us that traditional process automation technologies are capable of automating only about 20% of an enterprise’s business processes. We believe our Intelligent Digital Workforce Platform can automate up to 80% of these processes. It’s a stark contrast and an enormous opportunity. The financing and our high calibre of investors strongly position us to push boundaries and drive the next major business disruption.”
I’m proud to announce Automation Anywhere has raised $250 million in Series A funding, one of the largest A rounds in history. With this investment we are pushing boundaries and driving the next major business disruption. https://t.co/mqzNuYRfnE pic.twitter.com/oUBA3jmpJK
— Mihir Shukla (@MihirAndNow) July 2, 2018
The statement also added that John Giannuzzi and Chetan Puttagunta, general partners at New Enterprise Associates, are set to join the board of directors at Automation Anywhere.
Clyde Hosein, CFO at Automation Anywhere added, “With this investment, we are poised to extend our leadership in the multibillion-dollar RPA market. We welcome the new investor group and look forward to their valuable contributions as we enter our next growth phase.”
RPA is a fast-evolving technology which uses software robots to automate business processes that have never been automated by traditional technology platforms.
With this investment, Automation Anywhere plans to deepen their customer engagement and deploy its technology in additional geographies. Building on its core product offerings, the company will further work on specialised machine learning capabilities and sophisticated artificial intelligence integrations to drive higher operational efficiency, increased agility and flexibility to scale up-and-down anytime.