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Automation Anywhere, the California-headquartered robotic process automation company with a centre in Bengaluru, has raised $200 million in financing from Silicon Valley Bank, SVB Capital, and Hercules Capital.

Automation Anywhere said it will use this debt for operational and strategic capital for the next several years.

“We continue to be optimistic about the near-term opportunities for Automation Anywhere, as more companies scale automation and use the flexibility of our cloud platform to mitigate the impact of global events and navigate market challenges,” said Mihir Shukla, CEO and Co-founder, Automation Anywhere.

“The financing enables us to expand on our mission to unleash human potential by helping every company build a digital workforce and succeed with automation,” he said.

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Automation Anywhere, which is backed by SoftBank, turned into a unicorn in 2019. Quoting an estimate from Gartner, the company said automation could result in a $15 trillion benefit to the global economy by 2030.

In 2022, Automation Anywhere cloud customers have run an estimated 50 million automations, with leading companies deploying thousands of bots across their organisations.

“This partnership and financing with Silicon Valley Bank and Hercules Capital, complements an already strong balance sheet, and allows us to continue to invest in and enhance the best cloud-native automation platform in the marketplace today,” said James Budge, Chief Financial Officer, Automation Anywhere.

According to the company, automation budgets are dramatically increasing, with more than 77% of organisations indicating they will boost their automation budgets in the year ahead.