Automation Anywhere CEO Mihir Shukla. Photo credit: Automation Anywhere

Automation Anywhere, a robotic process automation company that was valued at $6.8 billion post-money after a funding round last year, began laying off hundreds of employees on Monday, Axios reports. According to Axios, the number of employees Automation is laying off amounts to more than 10% of its 2,600-strong headcount. Automation Anywhere confirmed the layoffs in a statement to Axios, stating that it’s “adjusting operations and restructuring parts of the company.”

Automation Anywhere is backed by investors including SoftBank, Salesforce Ventures, General Atlantic, Goldman Sachs, NEA, and Workday Ventures. The company, based out of San Jose, has raised north of $800 million in total funding.

Automation Anywhere was founded in 2003 and was bootstrapped for a long time, having raised its Series A in 2018, more than a decade after its founding. The company’s journey seems impressive, having been bootstrapped to a very successful point. More impressive is the fact that Automation Anywhere’s first outside funding, a Series A, was a gargantuan $550 million investment led by SoftBank in 2018. Salesforce Ventures, the venture capital arm of software giant Salesforce, followed up by leading a $290 million Series B a year later.

Automation Anywhere develops software tools that help enterprises automate certain business processes. The company has courted lots of customers globally, bolstered by offices in more than 40 countries.