UiPath, a New York based startup involved in the designing and development of robotic process automation software announced securing US$ 750 million Series F funding on 2nd February 2021.
The funding round was co-led by its existing investors Coatue and Alkeon Capital with the participation of other investors Altimeter Capital, Dragondeer, Sequoia Capital, IVP and Tiger Global Capital. It brings the total valuation of the company to US$ 35 billion. UiPath previously secured US$ 225 million capital in its last funding series and with the new investment the total funding is now US$2 billion. In comparison to its US$ 3 billion valuation in 2018 the startup has come a long way with their focus on unlocking the human creativity and ingenuity with the fully automated enterprise and helping the workers with automation.
The company leverages future technologies like machine learning and artificial intelligence for automating and ending active tasks which will unleash human potential and further improve the overall customer experience. Eventually humans can focus their energy on the other complex jobs like developing the strategy.
Abhi Arun, Alkeon Capital, Managing Partner, said: “Automation has become a strategic imperative that is fundamentally changing the way organizations operate. We are excited to co-lead this round of funding, as well as continue to team up with the UiPath team during an important phase for the company.”
The UbiPath platform provides various full proof development tools, intricate process automation, enhanced control, robust governance, on premise and cloud deployment, and robots over a singular virtual machine. They also offer UiPath Studio that can model automation visually, the UiPath Orchestral that can manage the critical enterprise responsibilities and the UiPath Robot that can effectively execute processes. The enterprise caters to finance, banking, healthcare, manufacturing, insurance and various shared services.
Founded in 2005, by Daniel Dines and Marius Tirca, UiPath is renowned to provide a complete software platform to help organizations in the automation of business processes efficiently. Their automation platform is designed in a way in which humans work, providing the consumers with robotic capabilities for discovering the automation opportunities and building, managing, running, engaging, measuring and governing the automation across various departments within their organization.
With global clients like Airbus, Google, McDonald’s, Virgin Media and others, it is presently the fastest growing robotic process automation startup. Last year, they partnered with Telangana and academy for skill and knowledge to develop a robotic process automation resiliency among the employees.
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