RPA firm UiPath raises $750M at $35B valuation

Sarkaritel
By Sarkaritel February 2, 2021 14:27

RPA firm UiPath raises $750M at $35B valuation


New York, Feb 2  Robotic Process Automation (RPA) firm UiPath has closed a $750 million Series F funding, that puts the company at $35 billion post-money valuation.

Founded in 2015, it has automated millions of repetitive tasks for over 65 per cent of the Fortune 500 companies.

The funding round was co-led by existing investors Alkeon Capital and Coatue, the company said in a statement late on Monday.

Other investors include Altimeter Capital, Dragoneer, IVP, Sequoia, Tiger Global, and funds and accounts advised by T Rowe Price Associates, Inc.

“Automation has become a strategic imperative that is fundamentally changing the way organisations operate. We are excited to co-lead this round of funding, as well as continue to team up with the UiPath team during an important phase for the company,” said Abhi Arun, Managing Partner at Alkeon Capital.

UiPath’s Automation Platform is designed to transform the way humans work, providing customers with a robust set of capabilities to discover automation opportunities and build, manage, run, engage, measure, and govern automations across departments within an organisation.

In July last year, UiPath announced to raised $225 million (nearly Rs 1,692 crore) in its Series E investment round, at a valuation of $10.2 billion.

With automation now becoming a boardroom imperative with new urgency, UiPath said it will use this funding to deepen its investment in research and development.

The company made its end-to-end hyper automation platform available in May last year

Sarkaritel
By Sarkaritel February 2, 2021 14:27

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