Home Automation Anywhere Has Raised $200M

Automation Anywhere Has Raised $200M

by Ant Sh
Automation Anywhere Has Raised $200M

Automation Anywhere recently announced it has secured $200 million in financing from Silicon Valley Bank, SVB Capital, and Hercules Capital, Inc. to provide operational and strategic capital for the next several years.

In 2022, Automation Anywhere cloud customers have run an estimated 50 million automations, with leading companies deploying thousands of bots across their organizations. According to the company’s CFO James Budge, this partnership and financing with Silicon Valley Bank and Hercules Capital, complements an already strong balance sheet, and allows Automation Anywhere to continue to invest in and enhance the best cloud-native automation platform in the marketplace. He adds that the cloud strategy is working and is efficient, and with over 80% of the company’s business being cloud, their over 50% revenue growth and strengthening margins have risen to the level that they believe $200 million is more than sufficient capital to see Automation Anywhere through to profitability.

“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.”

Mihir Shukla, CEO and co-Founder, Automation Anywhere