OpenBots Secures an Additional $15 Million in Funding

EDISON, N.J., May 13, 2022 (Newswire.com) - OpenBots, the enterprise RPA+ platform with its innovative zero-bot-license model, announced today that it raised an additional $15 million in growth capital. This investment is by the same group of private investors that invested in its seed round and has come on the heels of accelerating market momentum.  

OpenBots continues to turn heads in the Robotic Process Automation industry by renouncing 'the exorbitant per-bot licensing model' of its peers and instead simply charging for orchestration and support that enables its customers to scale their automation programs infinitely.  

This latest financing has allowed OpenBots to further differentiate itself in the market by accelerating investment into the research and development of new solutions for the evolving automation needs of the industry.  

Ashish Nangla, CEO of OpenBots, says on several occasions, he has been asked if OpenBot's Zero Bot Licensing is too good to be true or financially feasible. 

"I would argue that OpenBots is the most economically viable of all the current RPA companies in the market. Almost all these companies took money too fast from VC and/or PE firms and lost their pride of ownership and independence. Any short-term gyrations in revenue or profit get them in trouble, and we already see that with many RPA companies being bought out by Private Equity investors and other larger companies for significant discounts. There is immense pressure to show continued growth in licensing revenue, which is at odds with what is good for their customers who are struggling to scale due to those license costs," said Nangla.    

OpenBots has stayed disciplined by working closely with its primary investors and has focused solely on delivering a world-class product and customer experience and challenging the "pay per bot" license pricing model, which it believes is fundamentally flawed.   

"OpenBots and its investors are aligned on the long-term vision to disrupt the RPA industry. Without the constant pressure to engineer growth for quarterly earnings or a quick exit, we have the flexibility to do what's best for our customers, and in the end, this will create the most value for our shareholders and investors," Nangla said.   

"We're witnessing a seismic shift in engagements with customers. Customers have moved beyond simply evaluating a multi-vendor strategy and are now implementing broad-scale platform migrations to OpenBots from their traditional vendors," said Ali Chaudhry, Chief Strategy Officer of OpenBots.   

"This new capital infusion validates the market momentum we've been experiencing and allows us to continue investing in cutting-edge technologies like the OpenBots Ninja migration tool to deliver customer-first solutions," Chaudhry continued.

OpenBots is the world's most transparent and scalable enterprise automation solution—with a full-featured Studio for developers to build automations and flexible orchestration on-prem or in the cloud with OpenBots Server and OpenBots Cloud Server.  

OpenBots has developed best-in-class capabilities to support automation and transformation programs of any size. In addition, the Enterprise RPA+(plus) Platform offers OpenBots Ninja as a migration tool for transferring automations from other RPA systems to OpenBots.  

Other essential tools are OpenBots Business Center, used to coordinate workflows between bots and humans, and OpenBots Documents, an IDP engine for processing structured and unstructured data and documents.   

OpenBots Academy is a free resource for developer training and certification. OpenBots Support is available for organizations that need customized product support, and the platform offers a global network of implementation partners.  

To learn more about OpenBots and zero-cost bot licensing, visit https://openbots.ai.   

Source: OpenBots