The changes artificial intelligence will have on the workforce will be substantial in years to come. And now, according to Tech Crunch, companies that are automating repetitive tasks are seeing big valuations as businesses look to replace their office workers.
Tech brands UiPath and Automation Anywhere each develop automation robotics and have recently received notable amounts of funding. UiPath earned $225 million in its last funding round, while Automation Anywhere, whose customers include Google, Unilever and Comcast, received $250 million.
Companies across various industries want to automate customer support, scheduling, hiring and employee analytics and investors are pouring into the places that know how to make it happen. Sequoia Capital and Alphabet’s CapitalG led the funding for UiPath and helped bring the company to $408 million in funding and a $3 billion valuation.
Goldman Sachs invested in Automation Anywhere’s latest funding round, bringing the robot-maker to a $1.8 billion valuation.
“The financing and our high caliber of investors strongly position us to push boundaries and drive the next major business disruption,” said Automation Anywhere CEO and Cofounder Mihir Shukla in a statement.
Other automation companies like WorkFusion, Blue Prism Group, SaltStack and AntWorks are also hitting big with funding and valuations.