DLA Piper advises NEA and General Atlantic in their Series A investment into Automation Anywhere, Inc.

DLA Piper represented co-lead investor New Enterprise Associates (NEA) and investor General Atlantic in connection with an aggregate US$250 million Series A investment into Automation Anywhere, Inc., a world leader in Robotic Process Automation (RPA). Goldman Sachs Growth Equity (co-lead investor) and World Innovation Lab also participated in the financing.

As one of the largest Series A rounds on record for an enterprise software company, this investment brings Automation Anywhere's post-money valuation to US$1.8 billion and is expected to help extend Automation Anywhere's leadership in the rapidly-expanding RPA market and accelerate its global customer engagements and product development.

RPA is a fast-evolving technology that uses software robots (bots) to automate business processes that have never been automated by traditional technology platforms. Today these processes are managed manually by hundreds of thousands of human workers. Automation Anywhere pioneered RPA, and its Intelligent Digital Workforce Platform, which also combines cognitive automation and analytics, is driving productivity and business process accuracy with near-zero error rates.

With this investment, Automation Anywhere expects to deepen its customer engagements in North America, Latin America, India, Europe, Australia, Japan, South Korea and Singapore, and plans to deploy its technology in additional geographies. Building on its core product offerings, Automation Anywhere expects its customers to further benefit from specialized machine learning capabilities and sophisticated Artificial Intelligence (AI) integrations that will drive higher operational efficiency, increased agility and flexibility to scale up-and-down anytime, all with robust security.

Stephanie Brecher, general counsel, led the legal team at NEA, and Gordon Cruess, associate general counsel, led the legal team at General Atlantic. The DLA Piper team representing NEA and General Atlantic was led by partner Louis Lehot (Silicon Valley) and associate Ian Hlatky (Los Angeles) and included partners Ute Krudewagen, Cisco Palao-Ricketts (both Silicon Valley), Dean Fealk (San Francisco) and Jennifer Kashatus (Washington, DC), and associates Stasha Loeza, Chung Wei, Eduardo Blanco, Blake Jackson, Jameson Frazier, Andrew Chan, Yana Zubareva (all Silicon Valley), Carissa Bouwer (Sacramento) and James Duchesne (Washington, DC).

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than US$20 billion in cumulative committed capital since the firm's founding in 1977, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 220 portfolio company IPOs and more than 375 acquisitions. For additional information, visit www.nea.com.

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 115 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore. For additional information, visit www.generalatlantic.com.

DLA Piper's global technology sector lawyers work across practice areas and offices to support technology clients at every stage of growth, from startups to fast-growing and mid-market businesses to mature global enterprises. DLA Piper's Silicon Valley office draws from the firm's global resources to bring a depth of experience in technology to venture capital and strategic investors.