UiPath raises $750M Series F funding to grow its robotic process automation platform; now valued at $35 billion
The last time we wrote about UiPath was back in July 2020 when the New York-based tech startup raised $225 million in a Series E funding. Today, UiPath announced it has closed another $750 million Series F funding round at a post-money valuation of $35 billion.
The round was co-led by existing investors Alkeon Capital and Coatue. Other returning investors include Altimeter Capital, Dragoneer, IVP, Sequoia, Tiger Global, and funds and accounts advised by T. Rowe Price Associates, Inc.
Founded in 2015 by Daniel Dines and Marius Tirca, the New York-based UiPath enables businesses and organizations to develop an agile digital workforce by providing a state-of-the-art platform for software robots orchestration. Their products automate across all internal or web-based applications/databases and have unmatched solutions for Citrix, SAP, and BPO automation.
Their industry-standard enterprise architecture enables UiPath products to seamlessly fit within global IT environments and comply with all security requirements. They are also vendors of Robotic Process Automation software that powers the intelligent process automation solutions offered by the most technology-savvy BPO companies.
UiPath technology is used by thousands of companies particularly in document management, call center, healthcare, financial, API enablement, data extraction, and migration, process automation, application integration, and business process outsourcing verticals.
According to Forrester Research, “As we emerge from the crisis, firms will look to automation as a way to mitigate the risks that future crises pose to the supply and productivity of human workers.”* With automation now becoming a boardroom imperative with new urgency, UiPath will use this funding to deepen its investment in research and development.
Having announced the availability of its end-to-end hyper-automation platform in May 2020, UiPath is focused on accelerating and democratizing automation adoption to help customers deliver a better customer experience so employees worldwide can use, and also experience optimal value from, software robots. Whether on-premise or in the cloud, UiPath customers are afforded flexible deployment options best suited for their organization.