The round was led by New Enterprise Associates (NEA) and Goldman Sachs Growth Equity, with the participation of the General Atlantic and the World Innovation Lab (WiL) As one of the largest Series A rounds recorded for an enterprise software company, this brings Automation Anywhere’s post-money valuation to $1. 8 billion dollars This sizeable investment will help to expand Automation Anywhere’s leadership in the rapidly expanding Robotic Process Automation (RPA) market and accelerate its global customer engagement and product development.
RPA is a fast-moving technology that uses software robots (bots) to automate business processes that have never been automated by traditional technology platforms. Today, hundreds of thousands of human workers manually manage these processes. Automation Anywhere pioneered RPA and its Intelligent Digital Workforce Platform, which also combines cognitive automation and analytics, drives productivity and business process accuracy at near-zero error rates.
With this investment, Automation Anywhere expects to deepen its customer commitments in North America, LATAM, India, Europe, Australia, Japan, South Korea and Singapore (ASEAN) and plans to deploy its technology in additional regions. Building on its core product offerings, Automation Anywhere’s customers will further benefit from specialized machine learning capabilities and sophisticated Artificial Intelligence (AI) integrations to drive higher operating efficiency, increased agility and flexibility to scale up and down at any time, all with robust security.
“Customers tell us that traditional process automation technologies are capable of automating only about 20% of the company’s business processes. We believe that our Intelligent Digital Workforce Platform can automate up to 80% of these processes. This is a stark contrast and an enormous opportunity,” said Mihir Shukla, CEO and Co-Founder of Automation Anywhere. “Financing and our high level of investors strongly position us to push the boundaries and drive the next major business disruption. Our investors recognize the enormous potential of the RPA market and our $1 Series A financing. 8 billion valuation is a recognition of the company’s strong leadership, stability and growth prospects. “That’s right.
Automation Anywhere has dramatically increased its business and completed market-leading product innovations in unprecedented ways:
-Total revenue continues to grow by more than 100 per cent annually
-Existing customer revenue increased by more than 150 percent year-on-year (ended March 2018)
-Investments in customer success programs helped drive a 98% retention rate and one of the most advanced technology industries in the Net Promoter Score
-Large global companies continue to be signed as customers, some of which can be seen here.
-Version 11 of Automation Anywhere Enterprise (base platform) was launched in December 2017 with improvements including SLA management, applications for all cloud environments and bank-grade security.
-The IQ Bot 6 0 AI-enabled bots capable of learning from human behavior observation have recently been launched.
-Automation Anywhere Bot Store, the world’s first bot store market, opened in March 2018, consisting of hundreds of pre-built bots for more commonly used business processes, providing ease of drag-and-drop and immediacy with very little development required.
“With this investment, we are poised to expand our leadership in the multi-billion dollar RPA market,” said Clyde Hosein, CFO of Automation Anywhere. “We welcome the new investor group and look forward to their valuable contributions as we enter our next phase of growth. “That’s right.
“Automation Anywhere has shown tremendous progress in the RPA landscape,” said Scott Sandell, Managing Partner of NEA. “NEA has a 40-year history of identifying disruptive technologies, and we are confident that Automation Anywhere is ready for long-term success. This funding enables the company to accelerate global expansion and advance its product roadmap, and we are thrilled to partner with the Automation Anywhere team to bring the power of RPA to customers across all industries. “That’s right.
“With more than 1,000 global customers, Automation Anywhere is a leader in RPA space and we are pleased to join them in their next phase of expansion,” said John Giannuzzi, Vice President of the Merchant Banking Division of Goldman Sachs. “As more companies continue to streamline their manual processes, Automation Anywhere has a vision and solutions to drive unprecedented levels of business performance with its Intelligent Digital Workforce Platform across all vertical markets. “That’s right.
John Giannuzzi and Chetan Puttagunta, NEA’s General Partner, will join the Board of Directors of Automation Anywhere
Interacting with Automation Anywhere:
-Visit our website at: www Automation wherever you go Come on,
-Check out our monthly BotVisions webinar series: https://www Automation wherever you go Com/Company/Webinar
-Follow us on Twitter: @AutomationAnywh * Connect us to LinkedIn: https://www Linkin Com/company/automation—anywhere.
About Automation Everywhere
Automation Anywhere is a leader in Robotic Process Automation (RPA), a platform for more organizations to build world-class Intelligent Digital Workforces. Automation Anywhere’s enterprise-grade platform uses software bots that work side by side with people to do a lot of repetitive work in many industries. It combines sophisticated RPA, cognitive and embedded analytical technologies. Over 1,000 organizations use this AI-enabled solution to manage and scale business processes faster, with almost zero error rates, while dramatically reducing operating costs. Automation Anywhere provides automation technology to leading global financial services, insurance, healthcare, technology, manufacturing, telecommunications and logistics companies. For more information, please visit www Automation wherever you go Come on,
On the NEA
New Business Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational enterprises across multiple phases, sectors and geographies. With more than $20 billion in cumulative committed capital since its founding in 1977, NEA is investing in technology and healthcare companies at all stages of the company’s lifecycle, from the seed stage to the IPO stage. The company’s long record of successful investment includes more than 220 IPO portfolio companies and more than 375 acquisitions. For more information, please visit www No. Nea Come on,
Goldman Sachs Growth Equity
Founded in 1869 by Goldman Sachs Group, Inc. A leading global investment banking, securities and investment management firm Goldman Sachs Merchant Banking Division (MBD) is the primary center for Goldman Sachs’ long-term main investment activity. With nine offices in seven countries, MBD is one of the world’s leading private equity investors. Since 1986, the group has invested approximately $180 billion of leveraged capital across a number of geographies, industries and types of transactions. Goldman Sachs Growth Equity (GS Growth) is a dedicated platform for venture capital and growth equity investments in leading companies that have built innovative technology or processes to transform their industries. Since 1994, GS Growth has partnered with more than 200 companies and invested more than $5 billion in capital across sectors, including technology, software, media, healthcare IT and business and information services. GS Growth aims to partner with strong management teams to help companies achieve product, customer and geographic expansion. For more information on GS Growth, please visit: Gs Gs Com/Growth
About the Atlantic General
General Atlantic is a leading global growth equity firm providing capital and strategic support to growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, a long-term investment horizon and a deep understanding of the drivers of growth to partner with great entrepreneurs and management teams to build exceptional businesses around the world. General Atlantic has more than 115 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, Sà£o Paulo, Shanghai and Singapore. www www Atlantic General Come on,
About the World Innovation Laboratory
The World Innovation Lab (WiL) connects entrepreneurs with corporate resources to build global enterprises. WiL is a multi-stage venture capital firm that invests in consumer and business technology companies. With a deep network of global corporate partners, the company is committed to providing start-ups with unparalleled investment and partnership opportunities. The foundational platform of the World Innovation Lab includes the Japanese government investment arm and more than 20 leading Japanese corporations such as Sony, Nissan, All Nippon Airways, Mizuho Bank, Daiwa Securities, NTT and KDDI. In addition to venture investment, WiL also works with the world’s leading companies to incubate new businesses and to create spin-offs and joint ventures. For more information, please visit www Wilab’s Come on,
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