Telecommunications and internet group SoftBank Vision Fund invested $300m in US-based robotics automation technology developer Automation Anywhere yesterday at a valuation reported by TechCrunch to be $2.6bn post-money.
Founded in 2003, Automation Anywhere has developed robotic process automation (RPA) technology that enables enterprise customers to automate everyday business processes.
The company’s product offering includes a central RPA platform, an artificial intelligence bot called IQ Bot and a predictive analytics tool dubbed Bot Insight. It also operates its own app store which sells bot applications.
The deal came after Automation Anywhere received $250m in a series A round co-led by investment banking firm Goldman Sachs’ Growth Equity unit and New Enterprise Associates and backed by General Atlantic and World Innovation Lab, at a $1.8bn post-money valuation in July this year.
Praveen Akkiraju, a managing partner at Softbank Investment Advisers, said: “Enterprises of all sizes are in the midst of a major transition to digital platforms and we are excited to partner with Automation Anywhere to accelerate this transformation.
“We believe that [Automation Anywhere co-founder and CEO Mihir Shukla] and team bring a clear vision, a strong technology platform and a passion for delivering real value and cost optimisations for customers.”
Automation Anywhere is the second RPA technology provider to raise money at a valuation above $2.5bn this week, following UiPath which secured $265m in a series C round co-led by corporate venturing vehicle CapitalG.
