rival UiPath, which was valued at more than $10 billion this year. The growing push to digitize has intensified Automation Anywhere's battle with U.S. The Japanese government, for one, has made "digital transformation" a key policy priority after its cash handouts in response to the economic slowdown caused by the pandemic were delayed because it was difficult for people to apply online. and Europe, but Shukla said he expects the process automation industry to expand in Asia, where many tasks are still paper based. The majority of Automation Anywhere's clients are in the U.S. developer of data storage and analytics software, raised $3.4 billion in an IPO last month and has a market capitalization of about $74 billion.Īsked about his company's prospects for an IPO, Shukla did not answer the question directly but said, "We look forward to the coming months." There were "about 18 different industries worldwide where there was a significant requirement to manage new demand that is placed upon a business with a bot," Shukla said.Ī swing to profit will likely raise speculation over a public offering of Automation Anywhere shares, amid strong investor appetite for cloud-based software companies.
At the same time, they needed to keep workers at home. Other companies simply needed to cut costs. Airlines, for example, needed to respond to a flood of requests from customers over flight cancellations, while banks had to process millions of requests for financial aid. Shukla said demand for its cloud-based software surged during the pandemic as companies were faced with unprecedented challenges.
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