Automation Anywhere, a California-based robotic process automation (RPA) company, has raised $200m in financing from Silicon Valley Bank, Hercules Capital, and SVB Capital.
The financing is expected to help the RPA company with operational and strategic capital for the coming several years.
Through its cloud automation platform, Automation Anywhere offers automation and process intelligence solutions across all industries worldwide for automating end-to-end business processes for enterprise transformation.
Automation Anywhere CEO and co-founder Mihir Shukla said: “We continue to be optimistic about the near-term opportunities for Automation Anywhere, as more companies scale automation and use the flexibility of our cloud platform to mitigate the impact of global events and navigate market challenges.
“The financing enables us to expand on our mission to unleash human potential by helping every company build a digital workforce and succeed with automation.”
The company’s cloud-native platform combines RPA, artificial intelligence (AI), machine learning, as well as analytics to automate routine tasks and increase enterprise agility.
According to the company’s research, 93% of organisations that have already implemented a cloud-first approach to automation have made cloud-based automations an integral part.
With leading companies employing thousands of bots across their organisations, Automation Anywhere claims that its cloud customers have executed an estimated 50 million automations in 2022.
Silicon Valley Bank US technology corporate banking head said: “Automation Anywhere is a leader in RPA and is helping companies automate and digitise enterprise processes that increase the productivity of their workforce, digitally transform their business, and become more resilient.
“The solutions Automation Anywhere provides are invaluable and we are excited to continue to support them as they accelerate the adoption of RPA.”