Based in San Jose, California, Automation Anywhere focuses on RPA, which helps companies save time and money by automating repetitive, manual tasks. Bloomberg recently reported that the software company backed by SoftBank Group Corp.’s Vision Fund is now actively preparing for an initial public offering following its main competitor UiPath Inc., which raised $1.54 billion in an IPO in April.
According to people familiar with the matter and asking not to be identified because the matter is private, the Automation Anywhere IPO could happen later this year, but the company’s plans haven’t been finalized yet and the IPO might not take place until 2022.
SoftBank is one of Automation Anywhere’s major investors, with Vision Fund investing $300 million in 2018. The company was valued at $6.8 billion in 2019, according to data provider PitchBook. Automation Anywhere has raised about $840 million in funding from investors such as General Atlantic, New Enterprise Associates, Salesforce Ventures, and Goldman Sachs Group Inc., PitchBook data show.
