Automation Anywhere, one of the best-funded RPA providers with over $1 billion capital raised to date, went the debt route this week, securing a $200 million loan from Silicon Valley Bank, SVB Capital and Hercules Capital.

Debt raises aren’t necessarily a bad thing — they’re a useful tool, particularly for companies with high annual recurring revenue — but the magnitude and timing of the Automation Anywhere raise suggests it was more out of necessity than choice.

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