Automation Anywhere is a global robotic process automation (RPA) software company. The company was founded in 2003 and is headquartered in San Jose, California. Robotic Process Automation (RPA) is a software technology that is easy to use to automate digital tasks. With RPA, software users create software robots or "bots" that learn to simulate and then execute business processes based on predefined rules.
RPA helps companies automate repetitive processes based on rules and structured data so they can improve efficiency and reduce operational costs. This technology allows enterprises to connect a variety of applications without built-in integrations such as APIs. RPA automates processes with a graphical user interface (GUI) and performs human-like actions, but at a much faster speed and without operational errors.
In fact, Automation Anywhere bots can be classified as digital workers that can learn and interact with any corporate system or application. Examples of tasks that Automation Anywhere bots can manage are machine learning based cross-selling recommendations, automated advertising with improved performance, updating customer databases, generating financial reports, automatic recruiting, IT infrastructure management, and more. Automation Anywhere's largest customers include Deloitte, Humana, Dell, PwC, and AT&T.
As of 2021, RPA has become the fastest growing sector in the tech industry, with growth driven by the pandemic and the need to cut corporate costs. Global RPA demand was over $ 2.7 billion in 2020 and is expected to reach over $ 18.3 billion in 2027. According to consulting company Gartner, companies from the RPA industry will be able to earn $ 1.89 billion in 2021, which is 20% higher than last year. However, it should be noted that the industry is highly competitive, with only three players holding most of the market, namely UiPath (13.6%), Automation Anywhere (12.8%) and BluePrism (8.4%).
It is noteworthy that at the end of 2020, UiPath and Automation Anywhere were able to earn revenue at approximately a comparable level of $ 300-400 million. In the second half of April this year, UiPath went public. At the time of the placement, the company's capitalization was $ 30 billion. The maximum level was reached at the end of May at a level slightly above $ 44 billion. At the moment, the company's capitalization has returned to the IPO level of $ 30 billion.
It is worth noting that the main difference between Automation Anywhere and UiPath is the innovative IQ Bot product, fully equipped with all innovative technologies, such as AI, ML, predictive analysis. IQ Bot can predict employee actions and automate the employee's workplace by opening all the necessary applications in a timely manner. In other words, the bot itself can predict what the employee needs and when.
For 7 investment rounds, Automation Anywhere was able to raise $ 849 million. The company is currently valued at $ 6.8 billion. Given that Automation Anywhere is not far behind UiPath in market share and revenue levels, it can be assumed that at the time of the IPO companies should be valued at roughly the same level. Automation Anywhere is currently more than four times undervalued relative to UiPath. Among the main shareholders of Automation Anywhere are Softbank, Salesforce Ventures, Goldman Sachs and Workday Ventures.