Automation Anywhere, one of the leading Robotic Process Automation (RPA), has announced that it has raised $300 million from the SoftBank Vision Fund. The funding is subject to regulatory approvals and satisfaction of other customary closing conditions.
The company added that the funding is an expansion to the company’s Series A round announced in July, bringing the financing to over $500 million.
RPA enables companies to automate business processes. By automating routine tasks in the workplace, RPA is increasing productivity and enabling people to focus on more challenging and fulfilling work.
Mihir Shukla, CEO and Co-Founder at Automation Anywhere, said:
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,” said “We believe that Mihir and team bring a clear vision, a strong technology platform and a passion for delivering real value and cost optimizations for customers.
Automation Anywhere is the only RPA provider that offers a complete suite of products capable of automating business processes at scale. The company opened its Bot Store, which is an app store-like marketplace of downloadable bot applications that are designed by the company and its partner ecosystem to meet specific automation requirements for common business processes.