Today’s modern companies rely on robotic automation platforms to develop their intelligent digital workforces and enhance their business processes. Automation Anywhere, the world’s largest RPA (Robotic Process Automation) software provider, develops software tools that help companies automate their business processes.
This week, the San Jose, California-based company announced that it has received $200 million in new financing round. Silicon Valley Bank, SVB Capital, and Hercules Capital, Inc. (NYSE: HTGC) led this latest investment round. This latest investment is intended to provide operational and strategic capital for the next several years.
In a released statement via the company’s press release, Mihir Shukla, CEO and co-Founder, Automation Anywhere, said in a statement, “We continue to be optimistic about the near-term opportunities for Automation Anywhere, as more companies scale automation and use the flexibility of our cloud platform to mitigate the impact of global events and navigate market challenges.”
“The financing enables us to expand on our mission to unleash human potential by helping every company build a digital workforce and succeed with automation,” the CEO added in the statement.
Automation Anywhere was originally started as Tethys Solutions, LLC in 2003 by founders Mihir Shukla, Neeti Mehta Shukla, Ankur Kothari, and Rushabh Parmani. In 2010, the company took major changes and rebranded itself as Automation Anywhere, Inc.
Led by CEO Mihir Shukla, Automation Anywhere offers the world’s only cloud-native platform combining RPA, artificial intelligence, machine learning, and analytics to automate repetitive tasks and build enterprise agility, freeing up humans to pivot to the next big idea, build deep customer relationships and drive business growth.
Automation Anywhere is well-funded and has received financial backing from venture capital firms. Between 2018 and 2019, the company raised a total of $840 million from Series A and Series B investment rounds.
In 2018, the RPA powerhouse announced major investments again when it received a total of Series A investments of $550 million from Goldman Sachs, Workday Ventures, General Atlantic, NEA, World Innovation Lab, and SoftBank Investment Advisers.
In 2019, the company raised $290 million from a Series B funding round, led by Salesforce Ventures, the corporate venture arm of cloud-based software solutions Salesforce.com. The Salesforce-led funding has turned Automation Anywhere into one of Silicon Valley’s highest-valued unicorn startups, at a valuation of a whopping $6.8 billion.
As of 2021, the company claimed around 2,800 companies worldwide, which include big-name companies such as Whirpool and Volkswagen, using its RPA software solutions.
The company’s 2,100 technology partnerships include collaboration works with big tech companies such as Microsoft, Google, and Amazon Web Services. In 2019, it announced a partnership with Salesforce, to help Salesforce’s customers automate their business processes.