Automation Anywhere secures major stake in the RPA market

According to their press release, with the investment, Automation Anywhere plans to expand its customer engagements in North America, LATAM, India, Europe, Australia, South Korea and Singapore. Automation Anywhere plans on building on its core product offerings, furthering machine learning and AI capabilities.

Mihir Shukla, CEO and Co-Founder of Automation Anywhere, said: “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.”

>See also: Does ‘RPA’ spell the end of offshore outsourcing?

“The financing and our high calibre of investors strongly position us to push boundaries and drive the next major business disruption. Our investors recognise the enormous RPA market potential, and our Series A financing at a $1.8 billion valuation is an acknowledgement of the company’s strong leadership, stability and growth prospects.”

Clyde Hosein, CFO of Automation Anywhere, added: “With this investment, we are poised to extend our leadership in the multibillion-dollar RPA market.”

>See also: Robotic process automation and the new age of digital transformation

The sizable investment displays the future of RPA in a favourable light. Automation Anywhere is not alone; they are one of three small software RPA firms to have experienced fast growth. UiPath received $153m in series B funding, while Blue Prism who went public on the London Stock Exchange announced a placing of £70M of Shares.

According to a recent survey from ISG, approximately nine out of ten businesses are looking to implement robotic process automation (RPA) technology within the next two years.

>See also: Robotic process automation: an operations silver bullet? 

ISG partner Andreas Lueth said: “Robotic process automation is delivering improved outcomes for enterprises across Europe, and our research shows many more businesses will be taking advantage of the technology by 2020 as adoption accelerates.”

Phil Fersht, the CEO and Chief Analyst of HfS Research, wrote of the Horses for Sources blog: “We have some clarity for now with three dominant solutions, and enterprises can invest more in learning these tools with more certainty and peace of mind.”

“Some stability, after so much change in the world of business operations, is more than welcome.”

“Now let’s hope these firms will wisely invest in taking their products into the world of intelligent bots, and not splurge all the newfound capital on yet more sales and marketing.”

Avatar photo

Andrew Ross

As a reporter with Information Age, Andrew Ross writes articles for technology leaders; helping them manage business critical issues both for today and in the future