Robotic Process Automation (RPA) startup Automation Anywhere has raised $300 million from SoftBank Vision Fund; this makes them one of the world’s fastest growing companies.
The funding is an expansion to the company’s Series A round announced in July, bringing the financing to over $500 million; it is contingent on regulatory approvals and other customary closing conditions.
The financing builds on a remarkable year for the RPA firm, which saw a rapidly growing roster of marquee customers and key executive appointments globally.
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Mihir Shukla, CEO and Co-Founder at Automation Anywhere, said: “RPA is the most pervasive and frictionless path to delivering AI technologies across the enterprise, and is revolutionising the way people work.”
“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. Like the introduction of the PC, we see a world where every office employee will work 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.”
Praveen Akkiraju, managing partner at Softbank Investment Advisers, said: “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 optimisations for customers.”
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Clyde Hosein, Chief Financial Officer at Automation Anywhere, said: “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.”