Automation Anywhere raises $200 mn from Silicon Valley Bank, others

The firm's cloud customers have run an estimated 50 million automations in 2022, with leading firms deploying thousands of bots across their organisations

Robotic Process Automation (RPA) provider Automation Anywhere, has secured $200 million in financing from Silicon Valley Bank, SVB Capital, and Hercules Capital, Inc. The funding is intended to provide operational and strategic capital for the next several years.

Bob Blee, Head of US Technology Corporate Banking at Silicon Valley Bank said, “Automation Anywhere is a leader in RPA and is helping companies automate and digitize enterprise processes that increase the productivity of their workforce, digitally transform their business, and become more resilient.”

Recent research from Automation Anywhere reveals that automation budgets are dramatically increasing, with more than 77 per cent of organisations indicating they will boost their automation budgets in the year ahead. The research also found that cloud-based automations are integral for the 93 percent of organizations that have already adopted a cloud-first approach to automaton.

“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,” 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.”

Gartner estimates that automation could result in a $15 trillion benefit to the global economy by 2030.  

Automation Anywhere cloud customers have run an estimated 50 million automations so far in 2022, with leading companies deploying thousands of bots across their organisations.