- Leading Robotic Process Automation (RPA) company UiPath announced that it raised $225 million at a post-money valuation of $10.2 billion. And the company revealed it is now seeing over $400 million in ARR.
Leading Robotic Process Automation (RPA) company UiPath announced that it raised $225 million at a post-money valuation of $10.2 billion. This round of funding was led by Alkeon Capital Management. And Accel, Coatue, Dragoneer, IVP, Madrona Venture Group, Sequoia Capital, Tencent, Tiger Global, Wellington, and funds and accounts advised by T. Rowe Price Associates also joined the round.
UiPath also revealed that it now has over $400 million in ARR. This makes UiPath one of the fastest-growing enterprise software companies worldwide.
With the funding, UiPath plans to deepen its investment in research and development. And having announced the availability of its end-to-end hyper-automation platform in May 2020, UiPath has been focused on accelerating and democratizing automation adoption to help customers deliver better customer experiences. Regardless of whether on-premise or in the cloud, UiPath customers are afforded flexible deployment options best suited for their organizations.
UiPath has been experiencing exceptional customer growth and it has been a testament to the company’s innovative market vision and superior technology along with quality service.
UiPath has a vision of delivering A Robot for Every Person — one where companies enable every employee to use, create, and benefit from the power of automation — to liberate the boundless potential of people. And only UiPath offers an end-to-end platform for hyper-automation, combining the leading Robotic Process Automation (RPA) solution with a full suite of capabilities that enable every organization to scale digital business operations at unprecedented speed.
Key Quotes:
“This funding allows us to accelerate our platform ambitions to meet mounting customer demands and scale the tremendous opportunity to bring automation to one billion citizen developers – resulting in every business finally becoming a software business. We will advance our market-leading platform and will continue to deepen our investments in AI-powered innovation and expanded cloud offerings. COVID-19 has heightened the critical need of automation to address challenges and create value in days and weeks, not months and years. We are committed to working harder to help our customers evolve, transform, and succeed fast in the new normal.”
— Daniel Dines, UiPath Co-founder and CEO
“Automation, similar to cloud computing, has become a strategic imperative that is fundamentally changing the way organizations operate. UiPath’s leading-edge, mission-critical product combines scalable software with an intuitive user interface enabling companies globally to accelerate their digital transformation efforts. UiPath is one of the fastest-growing enterprise software companies in technology history and we’re excited to partner with them for years to come, as they deliver the most advanced and disruptive automation platforms of the modern enterprise.”
— Abhi Arun, General Partner at Alkeon
