Published Date : Jul 05, 2018
Goldman Sachs Growth Equity and New Enterprise Associates (NEA) has led the latest funding round of Automation Anywhere. In this Series A funding, the company has generated US$250 mn. Other participants in this series were World Innovation Lab (WiL) and General Atlantic. With the new funds, the current valuation of the company has reached US$1.8 bn. The company is engaged in operations with RPA, which utilizes software robots (bots) in automating business processes, as well as its Intelligent Digital Workforce (IDW) platform, combining both, cognitive analytics and automation.
With this step, Automation Anywhere hopes and expansion in its customer engagements in Latin America, North America, Europe, India, Australia, South Korea, Japan, and Singapore (ASEAN). It also plans to take its technology in other geographies. The customers of Automation Anywhere are expected to gain significantly from specialized machine learning capabilities and smart Artificial Intelligence (AI) integrations, driving better operational efficacy, heightened flexibility and agility to scale up-and-down anytime, that too with strong security.
Mihir Shukla, the Co-Founder and CEO of Automation Anywhere, stated that their customers tell them that conventional process automation technologies are just capable of automating only 20% of the business processes of any enterprise. However, he believes that the Intelligent Digital Workforce Platform offered by Automation Anywhere can automate nearly 80% of these processes, providing enormous opportunity. “The investments and the high caliber of investors support the company to push boundaries. The Series A financing at a US$1.8 bn valuation is actually an acknowledgement of the strong leadership, growth prospects, and stability of the company.