Thursday 2nd May, 2019
UiPath, the robotic process automation startup originally founded in Romania, confirmed that it has closed a Series D round of $568 million.
In the last year the company has raised $418 million, and seen its valuation go from a modest $110 million in 2017 to $7 billion today, just two years later.
Daniel Dines, UiPath Co-founder and CEO, said: We are at the tipping point. Business leaders everywhere are augmenting their workforces with software robots, rapidly accelerating the digital transformation of their entire business and freeing employees to spend time on more impactful work. UiPath is leading this workforce revolution, driven by our core determination to democratise RPA and deliver on our vision of a robot helping every person. I am humbled by the amazing support our customers, partners and investors give us every day, inspiring us to work harder to evolve RPA as the platform that not only unlocks the true potential of AI, but also other emerging technologies. We are just getting started."
“UiPath is improving business performance, efficiency and operation in a way we’ve never seen before,” said Philippe Laffont, founder of Coatue Management. “The Company’s rapid growth over the last two years is a testament to the fact that UiPath is transforming how companies manage their resources. RPA presents an enormous opportunity for companies around the world who are embracing artificial intelligence, driving a new era of productivity, efficiency and workplace satisfaction.”
The latest round is led by Coatue and joined by Dragoneer, Wellington, Sands Capital, and funds and accounts advised by T. Rowe Price Associates. Along with Accel from Series A and Series B rounds, CapitalG and Sequoia from Series C round, IVP and Madrona Venture Group.