Automation Anywhere to invest $100 million to drive company expansion
Category: #business  By Pankaj Singh  Date: 2019-08-29
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Automation Anywhere to invest $100 million to drive company expansion
  • Automation Anywhere has received a total investment of approximately $550 million.
     
  • Automation Anywhere has 70% market share in Global Capability Centre space in India as well as a market share of 53% to 54% in Indian corporate space.

Automation Anywhere, a renowned robotic process automation (RPA) company, reportedly announced that it would invest $100 million in the coming three to five years for its expansion in India and across the world. Automation Anywhere has received a total investment of approximately $550 million. The company recorded tremendous growth in 2018 and was valued at over $2.6 billion.

Automation Anywhere plans to launch 400 Centers of Excellence across India, the Middle East and Africa (IMEA) by the end of next year. The company will also extend its footprint in India and globe. Automation Anywhere will set up four new offices across India as well as new offices in South Africa, Middle East, Mexico, France, Hong Kong and Brazil by 2020.

The decision comes owing to the rapid adoption of RPAs by various firms across the globe. Reports cite that market size of the RPAs is close to $100 billion.

Chief Revenue Officer and co-founder, Automation Anywhere, Ankur Kothari stated that the company is one of the quickest-growing companies of space technology with a rate of 200% each year.

Ankur added that the company is growing at very high speed and there are huge opportunities, this growth is further anticipated to continue on this path. The expansion plans demonstrate growth potential of company.

Executive Vice President of the IMEA region, Milan Sheth stated that the company is an industry leader in this space. The company works with top IT firms for robotic process automation. 

US is the biggest market of Automation Anywhere where it has a market share of 72%. Automation Anywhere has 70% market share in Global Capability Centre space in India as well as market share of 53% to 54% in Indian corporate space. The company has almost 1,000 employees in India.

 

Source Credit: https://www.moneycontrol.com/news/business/companies/automation-anywhere-growing-at-200-earmarks-100-mn-for-expansion-4377701.html

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About Author

Pankaj Singh    

Pankaj Singh

With an experience as an insurance underwriter and a freelance writer under his belt, Pankaj Singh boasts of quite some expertise in the field of content creation. A qualified Post Graduate in Management, Pankaj has also completed a detailed course in Digital Marketin...

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