UiPath raises $568 mn in Series D Funding Round

The leading robotic process automation (RPA) company, UiPath is blazing a path to an “automation first” era, closing its Series D investment round raising $568 million at a post-money valuation of $7 Billion, led by Coatue and joined by Dragoneer, Wellington, Sands Capital, and funds and accounts advised by T. Rowe Price Associates, Inc.

Accel, who led the Series A and B rounds, and CapitalG and Sequoia who led the Series C round, all participated in this round, as did other existing investors, including IVP and Madrona Venture Group. At the $7 Billion valuation, UiPath is one of the fastest growing and highest-valued AI enterprise software companies worldwide.

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.

“UiPath is improving business performance, efficiency and operation in a way we’ve never seen before,” said Coatue Management founder Philippe Laffont. “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.”

“UiPath is enabling the critical capabilities necessary to advance how companies perform and how employees better spend their time,” said T. Rowe Price Associates Inc. Vice President Greg Dunham.

“The industry has achieved rapid growth in such a short time, with UiPath at the head of it, largely due to the fact that RPA is becoming recognised as the paradigm shift needed to drive digital transformation through virtually every single industry in the world.”