US-based robotics automation technology developer Automation Anywhere has received an undisclosed amount of additional funding from telecommunications and internet group SoftBank’s Vision Fund, Nikkei reported on Friday.
Vision Fund made a $300m investment in the company in November 2018, and SoftBank chief executive Masayoshi Son said at a conference last week it is extending the size of the investment, though he did not reveal the exact amount. The initial deal valued Automation Anywhere at $2.6bn post-money, according to TechCrunch.
Automation Anywhere provides robotic process automation (RPA) technology and its products include an artificial intelligence bot and a predictive analytics tool, both of which are designed to help enterprise customers automate their business processes.
Automation Anywhere CEO Mihir Shukla told Nikkei the company is looking to raise an additional round of funding it expects to be larger than the $568m series D round closed by rival RPA software provider UiPath in May 2019.
Investment banking firm Goldman Sachs’ Growth Equity unit and venture capital firm New Enterprise Associates co-led Automation Anywhere’s $250m series A round in July 2018, participating alongside growth equity firm General Atlantic and VC firm World Innovation Lab.