Funding round
Automation Anywhere Series B
Automation Anywhere, which works in process automation software development in San Jose, raised $290M in a Series B round announced on 21 Nov 2019, led by Salesforce Ventures, at a $6.80B post-money valuation. 3 firms took part. It is Automation Anywhere's second venture round on record; the one before was a Series A in Nov 2018.
$290M
Amount raised
$6.80B
Post-money valuation
3
Investors
1 lead
2.6x
Step-up from the Series A
$2.60B in Nov 2018
4.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Automation Anywhere at $6.80B after the new money, 2.6 times the $2.60B of its Series A (Nov 2018). The $290M bought investors about 4.3% of the company. It came 12 months after Automation Anywhere's Series A. It is 37% of the $790M Automation Anywhere has raised in the venture rounds on record. Automation Anywhere raised again 35 months later: a Growth round of $200M in Oct 2022.
Investors
Who put money in
Salesforce Ventures led the round with 2 other firms.
Lead investor
- Salesforce Ventures backs 314 venture-backed companies new investor
Also in the round
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- Goldman Sachs backs 218 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
549 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $22M, and this round was 13 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Moveworks Tech Companies | 14 Nov 2019 | $75M | not disclosed | Kleiner Perkins and ICONIQ Capital |
| Tech Companies | 14 Nov 2019 | $75M | not disclosed | not named |
| Tech Companies | 19 Nov 2019 | $50M | not disclosed | Warburg Pincus and Bessemer Venture Partners |
| Tech Companies | 20 Nov 2019 | $40M | not disclosed | Spark Capital and SVB Capital |
| Tech Companies | 6 Nov 2019 | $40M | not disclosed | Summit Partners |
| Tech Companies | 14 Nov 2019 | $37M | $150M | Lakestar and Dawn Capital |
| Tech Companies | 19 Nov 2019 | $35M | not disclosed | Hudson Structured Capital Management |
| Tech Companies | 14 Nov 2019 | $32M | not disclosed | noa |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Automation Anywhere raise in its Series B round?
Automation Anywhere raised $290M in its Series B round, announced in Nov 2019.
Who led Automation Anywhere's Series B round?
Salesforce Ventures led it, with SoftBank Vision Fund and Goldman Sachs.
What was Automation Anywhere's valuation at the Series B round?
$6.80B post-money.
How does it compare with other Series B rounds in Tech Companies?
549 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $22M, and this round was 13 times the median.
Did Automation Anywhere raise again after this round?
Yes: a Growth round in Oct 2022 of $200M.