US and India-based Robotic Process Automation (RPA) startup Automation Anywhere has raised around ₹2,150 crore ($300 million) in an extended series A funding round led by SoftBank Vision Fund. The latest funding has valued the automation unicorn at around ₹18,600 crore ($2.6 billion).
Earlier in July 2018, Automation Anywhere raised ₹1,713 crore ($250 million) in series A round led by NEA and Goldman Sachs Growth Equity and valued the startup at around ₹12,800 crore ($1.8 billion).
With the latest funding, the startup has raised around ₹3,863 crore ($550 million) in series A round.
Talking about the funding Mihir Shukla, Founder and CEO, Automation Anywhere, said, “RPA is the most pervasive and frictionless path to delivering AI technologies across the enterprise, and is revolutionizing the way people work… With this additional capital, we are in a position to do far more than any other provider. We will not only continue to deliver the most advanced RPA to the market, but we will help bring AI to millions”
He further added, “As the introduction of the PC, we see a world where every office employee will work alongside digital workers, amplifying human contributions. Today, employees must know how to use a PC and very soon employees will have to know how to build a bot.”
Automation Anywhere was founded in 2003 by Mihir Shukla, Ankur Kothari, Neeti Mehta, and Rushabh Parmani. It is robotic process automation (RPA) company, that uses its software product to deploy its software bots in the digital workforce to automate business processes.
The Bot Store opened by the startup, providing a marketplace for bot applications, has 65,000 users since launch, to help automate different processes.
The startup also provides other products like IQ Bot, a purpose-built cognitive automation that integrates with other AI solutions like IBM Watson, Bot Insight, a real-time operational and business analytics platform, and BotFarm, on-demand RPA solution for enterprises.
Automation Anywhere claims to have more than 1,400 enterprise customers across over 90 countries, with more than 800,000 digital workers deployed.
According to a report by Grand View Research, the global RPA market is expected to grow at a CAGR of 31.1% to reach $3.11 billion by 2025.