It’s been a hot week for Austin fundings, and things show no sign of slowing down: On Thursday, Blue Prism announced it would be raising $130 million in funding through the issuance of new stock.
“The outcome of this placing highlights the meteoric growth opportunity with RPA and intelligent automation,” said CEO Alastair Bathgate in a press release.
Since its founding in 2001, Blue Prism has led the field of Robotic Process Automation. Their tools are capable of creating a “digital workforce” through the automation of various administrative processes.
The company, which went public on the London Stock Exchange in 2016, but whose United States headquarters are located in Austin, plans to sell the shares publicly in addition to offering them up to existing investors.
The fresh funds will be used to accelerate Blue Prism’s next phase of growth. In another announcement from today, Blue Prism shared aggressive goals for partnering its RPA technology with the growing AI divisions of companies like Google and IBM.
To foster these partnerships, Blue Prism revealed Blue Prism Labs: an incubator-like space for the discovery and testing of RPA applications for artificial intelligence.
In order for Blue Prism’s exciting goals to move forward, the $130 million funding will need to be approved at a meeting of shareholders on February 11.
Said Bathgate: “In addition to our continued investment in the organization, infrastructure and global expansion, we’ll use the [funds] raised to drive our connected-RPA vision — empowering and connecting the entrepreneurs and innovators within an enterprise to adopt transformative technologies that enable them to be agile, disruptive and keep pace with changing market demands.”
