Automation Anywhere Raises $300 Million From SoftBank’s Vision Fund

By Dan Anderson ● November 18, 2018

Automation Anywhere is a Robotic Process Automation (RPA) company that has raised $300 million from the SoftBank Vision Fund. This round of funding is an expansion of Automation Anywhere’s Series A round announced in July, bringing the total financing to more than $500 million.

Robotic Process Automation (RPA) enables companies to automate business processes. And it automates routine tasks in the workplace thus increasing productivity and reducing costs.

“RPA is the most pervasive and frictionless path to delivering AI technologies across the enterprise, and is revolutionizing the way people work,” said Mihir Shukla, CEO and Co-Founder at Automation Anywhere. “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.”

UiPath, a company that designs similar technology, raised $265 million at a $3 billion valuation earlier this month. UiPath has automated millions of repetitive tasks for businesses and government organizations around the world.

“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,” added Softbank Investment Advisers managing partner Praveen Akkiraju. “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 also has a Bot Store, which is the largest app store in the industry featuring downloadable bot applications from the company and its partner ecosystem. Since launching in March 2018, the Bot Store has been visited by more than 65,000 users.