The company is already in Dizraptor’s portfolio since Oct 10. New offerings are possible in the future
About the Company
Automation Anywhere provides an intelligent automation platform that enables you to create your own software bots to automate any business process. Automation Anywhere service allows businesses to spend less time and resources on routine tasks and redirect high-value human capital to core activities.
Automation Anywhere has deployed nearly 3 million bots to support large and medium-sized businesses in finance, insurance, healthcare, technology, manufacturing, telecommunications and logistics in more than 90 countries. It counts a number of high-profile companies as clients: Anheuser-Busch, Dell, Qualcomm, Accenture, Boston Scientific, Comcast, Cisco, Coca-Cola Japan, Cognizant, Ernst & Young, KPMG, LinkedIn, PwC, Siemens, VW.
At the end of 2021 Automation Anywhere announced that it is acquiring FortressIQ, a startup developing automatic process discovery and mining technologies. With this acquisition of FortressIQ, Automation Anywhere will expand its platform with new optimization capabilities that help to identify which software-based processes in an organization can be automated.
Market Opportunities
According to Gartner, the robotic process automation (RPA) software market grew 31% in 2021 to $2.4B and held its position as the fastest-growing segment in the enterprise software market. By 2027 it is expected to reach $25.66B, expanding at a CAGR of 40.6% over the forecast period. 50% of U.S. healthcare providers will invest in RPA in the next three years.
Wikibon forecasts a market valuation of around $75B a year by 2025, suggesting the RPA market is actually more likely to be undervalued at this time.
Automation Anywhere named a Leader in the 2022 Gartner Magic Quadrant for RPA 4th year in a row.
Financials and Valuation
Automation Anywhere has secured a total of $852.7M in funding from Softbank, Salesforce Ventures (lead investor), Goldman Sachs, Workday Ventures, New Enterprise Ventures. Its latest funding in November 2019 brought the company’s valuation to $6.8B, a single share is worth $16.61.
The company ranks second in the RPA market with a 12.8% share. According to Gartner, Automation Anywhere revenue grew from $74M to $108.4M during 2018, an increase of 46.5%.
According to Silicon Angle’s data, in 2019 Automation Anywhere’s revenue was $250M and will reach $500M by the end of 2020. In 2021, $700-900M in revenue is expected.
Risks
Long-term activity related risk. Automation Anywhere has many competitors. UiPath (market leader), Blue Prism, Softomotive (acquired by Microsoft) are seen as the company’s biggest rivals. Competitors may stunt the company’s development in the future.
The market may be overvalued. The RPA market is comparably young – there is a chance that analysts and venture capitalists are overestimating the growth potential of this industry.
Automation Anywhere hasn’t disclosed its financial performance. It is unknown if the company is currently profitable and if there’s any tendency toward profitability.
Sources
Magic Quadrant for Robotic Process Automation, Gartner, Jul 2022
RPA Software Spend will Increase in Coming Years, Analytics Insight, February 2020
Gartner finds RPA is fastest growing market in enterprise software, TechCrunch, June 2019