Goldman Sachs and Softbank-backed Automation Anywhere appoints ex-EY technology leader for expansion

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New Delhi | Updated: December 13, 2018 7:14:45 PM

EY India’s Milan Sheth has joined Automation Anywhere as its executive vice president to lead growth in India, Middle East, and Africa region.

Goldman Sachs, Softbank, IMEA, Automation Anywhere, CAGR, EY IndiaResearch firm QY Research pegs India’s RPA market to grow at a CAGR of 61.3% from 2018 onwards. (Reuters)

Business process automation software provider Automation Anywhere has appointed EY India’s former technology sector head Milan Sheth as its executive vice president for India, Middle East, and Africa (IMEA) region, the company announced in a statement.

“His knowledge, reputation and experience will be instrumental in helping Automation Anywhere support massive demand for enterprise robotic process automation (RPA) and AI in these growing economies,” said Ankur Kothari, co-founder and chief revenue officer, Automation Anywhere.

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Sheth’s appointment follows $300 million funding round that Automation Anywhere raised in November this year which was an expansion to the company’s Series A round announced in July. The company has so far raised over $500 million and is valued at $2.6 billion.

“In the past two years, I have witnessed demand for RPA solutions increase exponentially in India and I strongly believe this technology has immense potential to disrupt the way businesses operate, manage productivity and efficiencies,” said Sheth. Sheth’s role will be to lead the company’s growth in IMEA region along with building the team. Automation Anywhere deploys software bots for businesses to automate their processes.

At EY, Sheth led a team of more than 2,000 partners, directors, and consultants serving Technology, Media & Entertainment, and Telecommunications sectors. Research firm QY Research pegs India’s RPA market to grow at a CAGR of 61.3% from 2018 onwards. Another study by Goldsmiths (University of London) and Automation Anywhere about the impact of automation and AI on businesses and the people said that 71% of respondents from Indian businesses have their employees used RPA and AI-based augmentation.
Globally, the RPA market size would be $2.4 billion by 2022 at a CAGR of 30.14% between 2017 and 2022.

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