Industry

Automation Anywhere, co-founded by 4 Indians, raises $290 million

Mihir Shukla, CEO and Co-founder, Automation Anywhere

Mihir Shukla, CEO and Co-founder, Automation Anywhere   | Photo Credit: G.R.N. Somashekar

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Automation Anywhere, a global leader in Robotic Process Automation (RPA) and co-founded by four youngsters from India, has raised $290 million in series B funding at a post money valuation of $6.8 billion.

The funding was led by Salesforce Ventures with additional funding from existing investors, including Softbank Investment Advisers and Goldman Sachs, the U.S.-based the company said in a statement.

The new capital will help it accelerate its vision to empower customers to automate end-to-end business processes, bridging the gap between the front and back office with an artificial intelligence (AI) powered intelligent automation platform, it added.

“In addition, the funding will advance the company’s focus on improving human-to-bot collaboration through attended automation, resulting in enhanced customer experiences and increased employee productivity,” the statement added.

A year ago, Automation Anywhere announced its Series A investment of $550 million from SoftBank Investment Advisers, General Atlantic, Goldman Sachs, NEA, World Innovation Lab, and Workday Ventures.

“Never before has there been such a transformative shift in the way we work, with artificially intelligent software bots changing how people, processes and technology interact for productivity gains,” said Mihir Shukla, CEO and co-founder, Automation Anywhere in a statement.

“This new funding reinforces the promise of the RPA category and empowers our customers to achieve greater business agility and increased efficiencies by automating end-to-end business processes – bridging the gap between the front and back office,” he said.

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Printable version | Dec 7, 2019 12:39:59 PM | https://www.thehindu.com/business/Industry/automation-anywhere-co-founded-by-4-indians-raises-290-million/article30047792.ece

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