With the new financing, Automation Anywhere aims to provide operational and strategic capital for the coming years and further strengthen its cloud strategy. Recent research by the company has found that more and more companies are scaling automation and that cloud-based automation is key for companies that have already adopted a cloud-first approach to automation.
AI-powered cloud automation platform Automation Anywhere announced October 3 that it has secured $200 million in financing from Silicon Valley Bank, SVB Capital and Hercules Capital. This funding will allow Automation Anywhere to continue its mission of helping businesses worldwide succeed with automation.
Mihir Shukla, CEO and co-Founder of Automation Anywhere, 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.”
James Budge, Chief Financial Officer of Automation Anywhere, further stated: “This partnership and financing with Silicon Valley Bank and Hercules Capital, complements an already strong balance sheet, and allows us to continue to invest in and enhance the best cloud-native automation platform in the marketplace today.”
Bob Blee, Head of U.S. Technology Corporate Banking at Silicon Valley Bank, said: “It has been a pleasure to work closely with Mihir, James, and the Automation Anywhere team over the past several years to support their continued growth.”
San Jose, California-based Automation Anywhere is a cloud automation platform that provides automation and process intelligence solutions for all industries globally to automate end-to-end business processes. The platform combines RPA, artificial intelligence, machine learning and analytics.
The full press release can be found here.
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