Blue Prism secured $120 million in Funding

Blue Prism, a London based RPA company, has revealed that it has secured $120 million in the latest funding round.

The funding has been backed by both the new and existing investors by placing it in a strong position in this current economic situation.

Blue Prism is an RPA (Robotics Process Automation) tool that is designed to optimize the way people work by simplifying, integrating, and automating the technology and processes. This tool helps in automating cognitive processes as those in finances, banks, etc.

Executive Opinion

Executive Chairman and CEO of Blue Prism, Jason Kingdon, said, "In this environment, our Digital Workers are arguably more important than ever in driving organizational adaptation and resilience, and our role as a strategic technology partner to our customers in many ways becomes more emphasized. The capital raised positions us a strong partner to our enterprise customers as they increasingly look to securely scale beyond a simple Proof of Concept (POC) while leveraging leading-edge AI and cognitive capabilities."

Blue Prism's Latest Funding

The company, as of now, plans to use the newly raised funds to strengthen and protect the company balance sheet at the time of this uncertainty for the wider economy. The funding will allow the company to invest in the innovation of its dedicated enterprise intelligent automation tool, notes the announcement.

The funding positions Blue Prism as a strong partner to its large enterprise customer base. These enterprises are looking to scale RPA adoption to maintain their business continuity and eliminate the challenges which are faced due to Coronavirus with the help of intelligent automation.