Funding Strengthens Balance Sheet Allowing Continued Investment In Ongoing Product Development and Differentiation
LONDON and AUSTIN, Texas, April 21, 2020 /PRNewswire/ -- Blue Prism (AIM: PRSM) announced today it has raised £100 million from existing and new investors, placing it in a strong position in the current economic climate. The funding will be used to further strengthen and protect Blue Prism's balance sheet during a period of uncertainty for the wider economy, while allowing continued investment in the innovation of its dedicated enterprise intelligent automation suite.
In this new economic reality, automation has become a top business priority. Blue Prism is working to meet this demand by helping organizations stay resilient, responsive and competitive through the deployment of a Digital Workforce. The funding raised positions the business as a strong partner to its large enterprise customer base, well placed to accelerate Robotic Process Automation (RPA) adoption with organizations looking to maintain business continuity and alleviate the challenges of COVID-19 through intelligent automation.
"In this environment, our Digital Workers are arguably more important than ever in driving organizational adaptation and resilience, and our role as a strategic technology partner to our customers in many ways becomes more emphasized," says Jason Kingdon, Executive Chairman and CEO of Blue Prism. "The capital raised positions us a strong partner to our enterprise customers as they increasingly look to securely scale beyond a simple Proof of Concept (PoC) while leveraging leading-edge AI and cognitive capabilities."
Blue Prism reported achieving the fastest revenue growth of all large UK public software companies for the fourth consecutive year in 2019. Completing its most successful year in FY2019, Blue Prism reported an 83 percent revenue increase to £101 million while boosting its customer base by 73 percent to 1,677 global enterprise accounts from the previous year. Blue Prism also added more than 700 new customers last year as it continued to execute on its vision of a Digital Workforce for Every Enterprise.
About Blue Prism Blue Prism's vision is to provide a Digital Workforce for Every Enterprise. The company's purpose is to unleash the collaborative potential of humans, operating in harmony with a Digital Workforce, so every enterprise can exceed their business goals and drive meaningful growth, with unmatched speed and agility.
Fortune 500 and public-sector organizations, among customers across 70 commercial sectors, trust Blue Prism's enterprise-grade connected-RPA platform, which has users in more than 170 countries. By strategically applying intelligent automation, these organizations are creating new opportunities and services, while unlocking massive efficiencies that return millions of hours of work back into their business.
Available on-premises, in the cloud, hybrid, or as an integrated SaaS solution, Blue Prism's Digital Workforce automates ever more complex, end-to-end processes that drive a true digital transformation, collaboratively, at scale and across the entire enterprise.