Automation Anywhere follows hefty $250m Series A with $300m Softbank Vision backing

Venture capital investment giant SoftBank Vision Fund has boosted software bot developer Automation Anywhere’s already hefty outside capital with $300m of new money.

The move comes just four months after a $250m Series A round – one of the biggest ever recorded – from investors including NEA and Goldman Sachs.

The company uses RPA to automate end-to-end processes including the correlation and analysis of data, procure-to-pay and order-to-cash tasks, business and operational insights origination and workforce management support.

Its clients include ING, The World Bank, EY, KPMG, Infosys, pwc, Cognizant, MasterCard, Comcast and Cisco.

Softbank Investment Advisors managing partner Praveen Akkiraju 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.

“We believe that [co-founder and CEO Mihir Shukla] and team bring a clear vision, a strong technology platform and a passion for delivering real value and cost optimizations for customers.”

Shukla 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.”

The deal comes hot on the heels of yesterday’s announcement that a trio of venture capital firms had helped boost UiPath’s Series C financing round, which had already given the robotic process automation software developer a $3bn valuation.

The company has now raised $265m for its Series C thanks to new backing from IVP, Madrona Venture Group and Meritech Capital.

UiPath had previously picked up $225m for the round thanks to CapitalG, which led the investment alongside new backer Sequoia Capital two months ago.

Copyright © 2018 AltAssets

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