UiPath closed its Series E investment round, raising $225 million at a post-money valuation of $10.2 billion
In 24 months, the RPA and AI leader has grown annual recurring revenue from $100 million to over $400 million; Plans to advance market-leading hyperautomation platform, expand cloud offerings.
The leading Robotic Process Automation (RPA) company, UiPath, today announced it has closed its Series E investment round, raising $225 million at a post-money valuation of $10.2 billion.
According to Forrester Research, “As we emerge from the crisis, firms will look to automation as a way to mitigate the risks that future crises pose to the supply and productivity of human workers.”*
With automation now becoming a boardroom imperative with new urgency, UiPath will use this funding „to deepen its investment in research and development”.
Daniel Dines, UiPath Co-founder and CEO, said:
„This funding allows us to accelerate our platform ambitions to meet mounting customer demands and scale the tremendous opportunity to bring automation to one billion citizen developers – resulting in every business finally becoming a software business. We will advance our market-leading platform and will continue to deepen our investments in AI-powered innovation and expanded cloud offerings. COVID-19 has heightened the critical need of automation to address challenges and create value in days and weeks, not months and years. We are committed to working harder to help our customers evolve, transform, and succeed fast in the new normal.”
Abhi Arun,General Partner at Alkeon, said:
„Automation, similar to cloud computing, has become a strategic imperative that is fundamentally changing the way organizations operate. UiPath’s leading-edge, mission critical product combines scalable software with an intuitive user interface enabling companies globally to accelerate their digital transformation efforts. UiPath is one of the fastest growing enterprise software companies in technology history and we’re excited to partner with them for years to come, as they deliver the most advanced and disruptive automation platforms of the modern enterprise.„
*Forrester Research, The COVID-19 Crisis Will Accelerate Enterprise Automation Plans, Leslie Joseph, May 5, 2020
Anders Olofsson – former Head of Payments Finastra
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Many more interesting quotes in the video below:
