[Funding alert] Automation Anywhere raises $290M led by Salesforce Ventures

The Series B round, which puts a post-money valuation of $6.8 billion on Automation Anywhere, also saw participation from existing investors.

22nd Nov 2019
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Automation Anywhere, a provider of robotic process automation, on Friday said it had raised $290 million (Rs 2,080 crore) in funding, led by Salesforce Ventures.


The Series B round, which puts a post-money valuation of $6.8 billion on the company, also saw participation from existing investors including Softbank Investment Advisers and Goldman Sachs, a statement said.


"The new capital will help Automation Anywhere accelerate its vision to empower customers to automate end-to-end business processes, bridging the gap between the front and back offices with an artificial intelligence-powered intelligent automation platform," it added.


In addition, the funding will advance the company's focus on improving human-to-bot collaboration through attended automation, it said.


Funding



Last year, Automation Anywhere had raised its Series A investment of $550 million from SoftBank Investment Advisers, General Atlantic, Goldman Sachs, New Enterprise Associates (NEA), World Innovation Lab, and Workday Ventures.


Robotic process automation (RPA) technology refers to the use of software robots (bots) to automate business processes that are currently managed manually by human workers.


Never before has there been such a transformative shift in the way we work, with artificially intelligent software bots changing how people, processes and technology interact for productivity gains, Mihir Shukla, CEO and Co-founder of Automation Anywhere, said.


This new funding reinforces the promise of the RPA category and empowers our customers to achieve greater business agility and increased efficiencies by automating end-to-end business processes," he added.


In August 2019, the US-headquartered Automation Anywhere announced its plans to invest $100 million in India over the next three to five years. As part of its investment plan, the company will open four new offices in the country and also see an increase in its headcount.


At present, the company has around 800 people in India and will strengthen its presence in Bengaluru, Mumbai, and Vadodara, as well as, open new offices in Delhi, Hyderabad, Chennai, and Pune.


(Disclaimer: Additional background information has been added to this PTI copy for context)



(Edited by Saheli Sen Gupta)


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