Automation Anywhere raises $200 million in funding round
- ByStartupStory | October 4, 2022
Silicon Valley Bank, SVB Capital, and Hercules Capital helped finance $200 million for Bengaluru-based Automation Anywhere, a robotic process automation firm with headquarters in California.
According to Automation Anywhere, over the coming years, it will use this debt for operational and strategic capital.
“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,” said Mihir Shukla, CEO and Co-founder, of Automation Anywhere.
“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,” he said.
In 2019, the SoftBank-backed startup Automation Anywhere became a unicorn. The business claimed that by 2030, automation may help the world economy to the tune of $15 trillion, citing a Gartner projection.
Leading businesses have deployed thousands of bots across their organisations, and in 2022, Automation Anywhere cloud clients will have executed an estimated 50 million automation.
“This partnership and financing with Silicon Valley Bank and Hercules Capital, complements an already strong balance sheet, and allows us to continue to invest in and enhance the best cloud-native automation platform in the marketplace today,” vocalised James Budge, Chief Financial Officer, Automation Anywhere.
The company claims that automation budgets are sharply rising, with over 77% of organisations saying they will increase their automation expenses in the coming year.
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