Published On: Tue, Feb 2nd, 2021

Robotic routine automation height UiPath raises $750M during $35B valuation

UiPath, one of a leaders in a fast growing robotic routine automation (RPA) space, announced Monday that it has sealed on $750 million in Series F appropriation during a towering post-money gratefulness of $35 billion.

Existing backers Alkeon Capital and Coatue co-led a round, that also enclosed appearance from other returning investors such as Altimeter Capital, Dragoneer, IVP, Sequoia, Tiger Global, and supports and accounts suggested by T. Rowe Price Associates, Inc. The financing brings a New York-based company’s sum lifted to scarcely $2 billion given inception, according to Crunchbase.

UiPath was founded in 2005 though didn’t lift institutional collateral until 2015, according to Crunchbase. CNBC reported in Dec that a association had annual income of about $360 million and over 6,300 business including Amazon, Bank of America and Verizon.

UiPath’s self-proclaimed idea is “to clear tellurian creativity and skill by enabling a Fully Automated Enterprise™ and lenient workers by automation.” Its Automation Platform aims to “transform a approach humans work” by giving companies a approach to build out and run automations opposite departments.

The association uses synthetic comprehension (AI) and appurtenance training in an bid to “automate millions of repetitive, mind-numbing tasks for business and supervision organizations all over a world, improving productivity, patron knowledge and worker pursuit satisfaction.” Its idea is to give workers a mental appetite and time to concentration on some-more formidable jobs. Competitors embody Microsoft Power Automate, Blue Prism, Automation Anywhere. SAP also recently entered a space.

The association has been flourishing like crazy. Back when we lonesome a $568 million Series D in Apr of 2019, UiPath had 400,000 users in 200 countries. At a time, a association pronounced it had increasing a annual repeated income (ARR) from $8 million in Apr 2017 to over $200 million. UiPath pronounced afterwards it had grown a headcount by 16 times over a two-year period, to some-more than 2,500 employees. It also hinted that it was deliberation an IPO.

True to a word, UiPath in Dec submitted a breeze registration to a Securities and Exchange Commission for an initial open offering. So it’s generally engaging that it lifted such a outrageous turn now.

For some, UiPath’s going open could be a Snowflake IPO of 2021. Alternative payments provider Affirm followed a identical trail recently — lifting $500 million before filing for an IPO weeks later.

UiPath declined to criticism on a latest appropriation turn over a press release.

UiPath nabs $568M during a $7B gratefulness to move robotic routine automation to a front office

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