skip to content

NEA, Goldman led funding makes Automation Anywhere a unicorn

Date:

Automation Anywhere, a robotics process automation, whose clients include Cisco, Google, Tesco and Siemens, has raised $250 million. The funding values the company at $1.8 billion, post money, the company said.

The series A round was led by venture capital investor New Enterprise Associates (NEA) and Goldman Sachs Growth Equity, with participation from General Atlantic and World Innovation Lab.

ALSO READ: Google commits $550 million to Chinese e-commerce company JD.com

“RPA, or robotics process automation, is a fast-evolving technology which uses software robots (bots) to automate business processes that have never been automated by traditional technology platforms. Today, these processes are managed manually by hundreds of thousands of human workers,” a company statement said.

These tasks include rote ones like processing insurance claims and mortgage applications.

With this fund-raise, the California-based startup aims to deepen its customer engagements in North America, South America, India, Europe, Australia, Japan, South Korea and Singapore (ASEAN), and plans to deploy its technology in additional geographies.

The firm also aims to extend its leadership in the growing RPA market and accelerate its global customer engagements and product development, it said.

“Our investors recognize 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,” said Mihir Shukla, chief executive and co-founder of Automation Anywhere.

Traditional process automation technologies are said to automate only about 20 percent of an enterprise’s business processes.

Click here for Latest News updates and viral videos on our AI-powered smart news genie

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

NewsMobile Morning Brief

Cyclone Remal Makes Landfall, Indian Coast Guard on High...

Cyclone Remal Makes Landfall, Indian Coast Guard on High Alert

New Delhi: As the severe cyclonic storm 'Remal' made...

Israel Hamas War: Hamas Launches Big Missile Attack Towards Tel Aviv

The al-Qassam Brigades, the armed wing of Hamas, declared a "big missile attack" against Tel Aviv. The Israeli military reportedly retaliated by alerting the central city's sirens to approaching rockets

Punjab Kings Pacer Harshal Patel Wins Second Purple Cap In IPL 2024

Harshal finished the tournament with 24 wickets in 14 matches at an economy of 9.73 and an average of 19.87