Automation Anywhere, an innovative player within the Robotic Process Automation (RPA) sphere, has revealed that it has completed a $250mn funding round led by New Enterprise Associates (NEA) and Goldman Sachs Growth Equity.
The firm provides businesses with a platform and the tools necessary to build digital workforces, creating automated processes that work alongside humans to reduce time constraints and improve the efficiency of repetitive processes and operations.
“Customers tell us that traditional process automation technologies are capable of automating only about 20% of an enterprise’s business processes,” said Mihir Shukla, CEO and Co-Founder of Automation Anywhere. “We believe our Intelligent Digital Workforce Platform can automate up to 80% of these processes. It’s a stark contrast and an enormous opportunity.”
As claimed by Automation Anywhere, the figure marks the Series A round as one of the largest of its kind for an enterprise software company to date, giving the firm a $1.8bn valuation.
The investment will be used to help Automation Anywhere to expand its presence within the fast-growing RPA market, accelerating its global reach and product development.
“With this investment, we are poised to extend our leadership in the multibillion-dollar RPA market,” said Clyde Hosein, CFO of Automation Anywhere. “We welcome the new investor group and look forward to their valuable contributions as we enter our next growth phase.”