Salesforce Ventures Invests $290 Million in Automation Anywhere

Automation Anywhere has secured the US $290 million in the funding round of Series B led by the Salesforce Ventures.

Some of the existing investors which include the Softbank Vision Fund and Goldman Sachs have also participated in the round.

The investment was secured at a post-money valuation of around $6.8 billion, said the announcement.

Salesforce Ventures is the venture capital arm of the Customer Relationship Management software service provider Salesforce.com Inc.

The company will now be going to use the fresh funding to further strengthen its Artificial Intelligence-powered automation platform.

Executive Opinion

CEO, and co-founder, Automation Anywhere, Mihir Shukla, said, "Never before has there been such a transformative shift in the way we work, with artificially intelligent software bots changing how people, processes and technology interact for productivity gains. This new funding reinforces the promise of the RPA category and empowers our customers to achieve greater business agility and increased efficiencies by automating end-to-end business processes – bridging the gap between the front and back office."

Executive Vice President and General Manager, Salesforce Service Cloud, Bill Patterson, said, "Automation Anywhere makes it easier for Salesforce customers to automate repetitive, manual tasks and focus on what matters most—the customer. We’re excited to extend our partnership with Automation Anywhere to help more customers automate their end-to-end business processes and accelerate their digital transformation journeys."

More on Automation Anywhere development

The company solution helps the customers to bridge the gap between the front and back office by automating the end to end business processes. The funding will be going to help the company advances human to bot collaboration via the attended automation.

The company offers Robotics Process Automation(RPA), which works on the software bots to automate entire business operations.

Automation Anywhere was valued at more than $2.6 billion when it secured the funding round of Series A of $550 million last year by the General Atlantic, Goldman Sachs and SoftBank Vision Fund.

In the month of August this year, the company revealed that it will invest $100 million in Research and Development (R&D) and hire more people in the Indian development centers.

The company has its offices in more than 40 countries and has claimed to have deployed more than 1.7 million bots for its clients across the different industries.

Previously, Automation Anywhere launched its Salesforce Connector on Salesforce AppExchange, notes the announcement.