<\/p>\n
Automation Anywhere, one<\/span> of the best-funded RPA providers with over $1 billion capital raised to date, went the debt route this week, securing a $200 million loan from Silicon Valley Bank, SVB Capital and Hercules Capital.<\/p>\n Debt raises aren\u2019t necessarily a bad thing \u2014 they\u2019re a useful tool, particularly for companies with high annual recurring revenue \u2014 but the magnitude and timing of the Automation Anywhere raise suggests it was more out of necessity than choice.<\/p>\n \u201cThis new financing will provide operational capital for the next several years as Automation Anywhere continues to advance its cloud-native automation platform,\u201d CEO Mihir Shukla told via email. \u201cWe\u2019re using AI and intelligent automation to design tech that\u2019s accessible to everyone \u2014 all kinds of business leaders, managers and citizen developers.\u201d<\/p>\n While Shukla insists Automation Anywhere\u2019s business is robust, with a customer base of around 5,000 and \u201cover 50% revenue growth,\u201d the RPA market has long faced headwinds as investors increasingly express skepticism that the technology, which automates repetitive software tasks at enterprise scale, can deliver on its many promises.<\/p>\n PitchBook notes that shares of UiPath \u2014 Automation Anywhere\u2019s main rival, which went public in April 2021 \u2014 plummeted 71% this year. Meanwhile, another large player, Blue Prism, last September agreed to sell itself to Vista Equity Partners for \u00a31.095 billion (about $1.5 billion).<\/p>\n Gartner predicts that while the RPA market will reach $2.9 billion by the beginning of 2023, the growth rate will end substantially lower than it was in 2021, when the segment expanded by 30.9% compared to the year prior. Assuming the $2.9 billion figure comes to pass, it\u2019d translate to 19.5% growth between the years 2021 and 2022.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Automation Anywhere, one of the best-funded RPA providers with over $1 billion capital raised to date, went the debt route this week, securing a $200 million loan from Silicon Valley Bank, SVB Capital and Hercules Capital. Debt raises aren\u2019t necessarily a bad thing \u2014 they\u2019re a useful tool, particularly for companies with high annual recurring […]<\/p>\n","protected":false},"author":1,"featured_media":1219783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1219781","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrity-gossip"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1219781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1219781"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1219781\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1219781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1219781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1219781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}