Chennai
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.
UiPath closed its Series A funding in April 2017, and since then has expanded on its most important milestones. These include cultivating the world’s largest community in RPA, now exceeding over 400,000 users worldwide across 200 countries and expanding its worldwide customer base to 8 of the top 10 Fortune 500 Global, and over 50 per cent of the top 50 Fortune 500 Global. It has also increased annual recurring revenue (ARR) from $8 million to over $200 mn and grew its employee base to over 2,500, a 16x increase during the period.
“We are at the tipping point. Business leaders everywhere are augmenting their workforces with software robots, rapidly accelerating the digital transformation of their entire business and freeing employees to spend time on more impactful work,” said Daniel Dines, UiPath co-founder and CEO.
Raghu Subramanian, President and CEO of UiPath India (inset) says, “The opportunities for UiPath in a diverse country like India are massive, ranging from sectors like IT to BFSI and healthcare to government. More than that, India is in a prime position to become an RPA powerhouse, because of the rapid adoption of RPA and AI and the growing talent pool. We are committed to investing in India to realise our global vision of ‘A Robot for Every Person’ and create a talent base of over 500,000 automation-trained professionals.”
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