A global software company that develops a platform for robotic process automation. Following its acquisition of both ProcessGold and StepShot in 2019, UiPath has become the first vendor of scale to bring together both process mining and robotic process automation.
The company has raised $225M Series E funding round on July 13, 2020. The financing was led by Alkeon. Others participating include Accel, Coatue, Dragoneer, IVP, Madrona Venture Group, Sequoia Capital, Tencent, Tiger Global, Wellington, and funds and accounts advised by T. Rowe Price Associates, Inc. The latest round values UiPath at $10.2B post-money, the company was previously valued at $7B from its Series D round on April 30, 2020.
UiPath was founded in 2005 by the Romanian entrepreneurs, Daniel Dines and Marius Tîrcă. The company started from Bucharest, Romania and moved its headquarter in New York City. UiPath’s presence extends to 31 offices across 19 countries throughout North America, Europe, and Asia.
UiPath's technology is used by thousands of companies particularly in document management, contact center, healthcare, finance and accounting, human resources, and supply chains and to address major technical challenges, including data extraction and migration, process automation, application integration and business process outsourcing. It is the fastest-growing enterprise software company in history with scores of offices, thousands of employees, partnerships with the world’s best consulting and BPO firms, a 300,000-strong developer community, and 5MM+ robots at work in over 2750 global enterprises.
With this new $225M funding, the company brings its total to $1.22B. The latest funding comes on the back of its $568M Series D round in April 2019. The Series D was led by Coatue, with participation from Dragoneer, Wellington, Sands Capital, and funds and accounts advised by T. Rowe Price Associates, Accel, Alphabet’s CapitalG, Sequoia, IVP and Madrona Venture Group.
UiPath was named a 2020 CNBC Disruptor 50 company, was also recognized as the fastest growing technology company in the Americas according to FT Americas’ Fastest Growing Companies 2020 and named the top company on Deloitte’s 2019 Technology Fast 500, a ranking of the fastest public and private technology companies in North America.