Automation Anywhere raises $300 million investment from SoftBank Vision Fund

By SiliconIndia   |   Monday, November 19, 2018
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Bringing key transformation in the technological ecosystem, automation technology is revolutionalizing the modules of IT sector with increased efficiency, improved production flexibility and amplified agility, thus laying a robust foundation of future-ready environment. Innovatively empowering intelligent automation amongst IT sector, Automation Anywhere raises $300 million funding from SoftBank Vision Fund to accelerate digital transformation within enterprises and workforce. While the funding is subject to regulatory approvals and satisfaction of other customary closing conditions, it is also an expansion to the company’s Series A round (announced in July), hence amplifying company’s finance to over $500 million.

Adducing to the occasion, Mihir Shukla, CEO & Co-Founder, Automation Anywhere states, “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. With the introduction of PC, we see a world where every office employee works 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”. On the flip side, Praveen Akkiraju, Managing Partner, Softbank Investment Advisers gladly elucidates, “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. 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”.

“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. 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,” expresses Clyde Hosein, Chief Financial Officer, Automation Anywhere.

Automating the New Tomorrow

Being the only RPA provider, Automation Anywhere offers complete suite of products, capable of automating business processes. Together, its foundational Enterprise RPA platform, AI product, IQ Bot™ and Bot Insight™ (a predictive analytics capability embedded into bots) are the industry’s most robust and scalable platform for delivering an Intelligent Digital Workforce. Topping that is its Bot Store which is the industry’s largest app store for downloadable bot applications, especially designed to meet specific automation requirements for common business processes. Additionally, Bot Store increases the speed and simplicity in deploying bots at enterprise scale, irrespective of organization’s size. And hence is the store’s strong user crowd that crossed 65,000 figures since its launch in March 2018.

Automation Anywhere is a leader in Robotic Process Automation (RPA), a world-class platform for building Intelligent Digital Workforces, enabling automation and increasing productivity within the workplace. The company provides automation technology to leading companies, globally, belonging to sectors such as financial services, insurance, healthcare, technology, manufacturing, telecom and logistics. By combining sophisticated RPA, cognitive and embedded analytic technologies, the company’s enterprise grade platform deploys software bots alongside human resources to simplify repetitive work among multiple industries. Leveraging AI-enabled solutions optimally, Automation Anywhere has empowered over 1400 organizations to manage and scale their business processes with near-zero error rates along with reducing their operational costs dramatically.

Read more news:

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