Automation Anywhere has raised $250m in a fresh round of Series A funding.
The company, which is headquartered in California, says the UK is one of its major markets.
Now valued at $1.8bn, Automation Anywhere raised from New Enterprise Associates (NEA), Goldman Sachs Growth Equity, General Atlantic and World Innovation Lab (WiL).
Automation Anywhere’s proprietary technology uses software bots to automate manual business process.
With the funding, the company is seeking to deepen its customer engagements in North America, LATAM, India, Europe, Australia, Japan, South Korea and Singapore.
The money will also be invested in product development as the business looks to deploy its technology in additional geographies.
“Customers tell us that traditional process automation technologies are capable of automating only about 20 percent of an enterprise’s business processes. We believe our Intelligent Digital Workforce Platform can automate up to 80 percent of these processes. It’s a stark contrast and an enormous opportunity,” said Mihir Shukla, CEO and co-founder of Automation Anywhere.
“The financing and our high caliber 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,” he added.
“Automation Anywhere has demonstrated tremendous progress within the RPA landscape,” said Scott Sandell, managing general partner of NEA.
“NEA has a 40 year history of identifying disruptive technologies, and we are confident that Automation Anywhere is poised for long-term success. This funding allows the company to accelerate global expansion and advance its product roadmap, and we are thrilled to partner with the Automation Anywhere team to bring the power of RPA to customers across all industries.”
“With more than 1,000 global customers, Automation Anywhere is the leader in the RPA space and we are pleased to join them in their next phase of expansion,” added John Giannuzzi, a vice president in Goldman Sachs’ Merchant Banking Division.
“As more businesses continue to streamline their manual processes, Automation Anywhere has the vision and solutions to drive unprecedented levels of business performance with their Intelligent Digital Workforce Platform across all vertical markets.”
As a result of the investment, Giannuzzi and Chetan Puttagunta, general partner of NEA, will join Automation Anywhere’s board of directors.