UiPath, a NYC-based robotic process automation (RPA) company, closed a $568m a Series D funding.
The round, closed at a post-money valuation of $7 Billion, was led by Coatue, with participation from Dragoneer, Wellington, Sands Capital, funds and accounts advised by T. Rowe Price Associates, Accel, CapitalG and Sequoia, IVP and Madrona Venture Group.
Since closing its Series A funding in April 2017, the company has:
– expanded its RPA community, which now exceeding more than 400,000 users worldwide across 200 countries and its worldwide customer base to 8 of the top 10 Fortune 500 Global, and over 50 percent of the top 50 Fortune 500 Global,
– delivered six releases of the UiPath Enterprise RPA platform with defense-grade security,
– launched UiPath Go!,
– integrated AI by adding new capabilities like AI Computer Vision,
– increased its annual recurring revenue (ARR) from $8 million to over $200 million, and
– grown its employee base to over 2,500.
Led by Daniel Dines, co-founder and CEO, UiPath is champions a “one robot for every person” approach, delivering free and open training and collaboration and enabling robots to learn new skills through AI and machine learning. The company’s enterprise Robotic Process Automation (RPA) platform has already automated millions of repetitive, mind-numbing tasks for business and government organizations all over the world, to improve their productivity, customer experience and employee job satisfaction.
Recent customer additions include American Fidelity, BankUnited, CWT (formerly known as Carlson Wagonlit Travel), Duracell, Google, Japan Exchange Group (JPX), LogMeIn, McDonalds, NHS Shared Business Services, Nippon Life Insurance Company, NTT Communications Corporation, Orange™, Ricoh Company, Ltd., Rogers Communications, Shinsei Bank, Quest Diagnostics, Uber, US Navy, Voya Financial, Virgin Media, and World Fuel Services.