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Automation Anywhere Funding Boosts Cloud Automation Platform

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The global pandemic, ongoing trade concerns and political conflicts have disrupted business operations across the globe for almost three years. As a result, workforce challenges and supply chain shortages became prominent, along with increased complexity in demand forecasting and customer engagements, much of which involves repetitive, time-consuming, manual processes.  To overcome these hurdles, organizations have made intelligent cloud-based automation a foundational technology.

Automation Anywhere, for example, is a cloud automation platform that delivers automation and process intelligence solutions across all industries globally.  It’s technology automates end-to-end business processes for the fastest path to enterprise transformation.

With more than 77% of organizations indicating they will boost their automation budgets, according to Automation Anywhere, the company secured $200 million in financing from Silicon Valley Bank and Hercules Capital to provide operational and strategic capital for the next several years.

"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," said Mihir Shukla, CEO and co-founder, Automation Anywhere. "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."

Automation Anywhere offers a cloud-native platform that combines AI, machine learning and analytics with RPA to automate repetitive tasks and build enterprise agility. Automating with cloud RPA will lower total cost of ownership. Cloud automation eliminates setup time, infrastructure and maintenance costs while enabling organizations to realize the cost benefits of public cloud.

Cloud RPA also provides digital acceleration. What this means is that cloud RPA bypasses the legacy barriers like technical complexity and unfriendly user experience to RPA adoption and application across the enterprise.

"Our cloud strategy is working and is efficient,” said James Budge, Chief Financial Officer, Automation Anywhere.  With over 80% of our business being cloud, our over 50% revenue growth and strengthening margins have risen to the level that we believe $200 million is more than sufficient capital to see us through to profitability."

Automation Anywhere cloud customers ran an estimated 50 million automations with companies deploying thousands of bots across their organizations.




Edited by Erik Linask

Future of Work Contributor

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