Automation Anywhere is preparing for a potential IPO (initial public offering) that could happen some time in late 2021 as per Bloomberg.
Considered a close rival to UiPath in the RPA market, Automation Anywhere (AA) has a cloud-based enterprise automation platform which they recently rebranded as Automation 360. The platform has process discovery, digitization, automation and optimization capabilities in an integrated platform
Automation Anywhere have been strengthening their executive team in anticipation of their upcoming IPO. They have a new CFO (James Budge), CIO (Sumit Johar), COO (Mike Micucci) and CMO (Anna Rosenman).
UiPath had one of the biggest software IPOs in U.S history in April. They raised $1.54 billion at $29B valuation. They currently have a market cap of $32 B.
Automation Anywhere was last valued at $6.8 billion in 2019. They have so far raised about $840 million from investors such as General Atlantic, Goldman Sachs, NEA, Salesforce Ventures, SoftBank’s Vision Fund, Workday Ventures and World Innovation Lab.
As per Blomberg, Automation Anywhere is working with investment banks to assist with its listing. The company’s plans are not firm yet and the IPO could be delayed as well. It will be ineresting to see where they are able to value their IPO offering if and when they list.
