Robotic Process Automation - UiPath Secures Series B Funding Worth $153 Million

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At CiGen, we work exclusively with UiPath to provide Intelligent Automation solutions and services and usher in the Digital Workforce of the future. We help companies reduce costs, increase accuracy and the availability of data, and achieve scalability through robotic process automation.

As our Executive Director Leigh Pullen mentioned in an interview for the Australian Financial Review, “we find UiPath’s technology is top-of-class, enabling fast and accurate automation, and it’s backed by a competitive pricing structure, for both entry level and long-term installations. We were also inspired by UiPath’s vision to strategically evolve beyond purely rules-based automation and towards cognitive and machine learning automation, with the ability to plug in and take advantage of leading AI technologies such as IBM Watson, Google and optical character recognition ABBYY.”

UiPath is a leading enterprise robotic process automation (RPA) software company which has achieved record growth the past year. As a coronation to their success, they've just secured a Series B funding worth $153 million that places them at a $1.1 billion valuation.

Accel led both Series A and Series B capital raises, with new investors CapitalG and Kleiner Perkins Caufield & Byers contributing to this round. UiPath seed investors Earlybird’s Digital East Fund, Credo Ventures, and Seedcamp also participated significantly in the round.

As mentioned in their official press release, the new financing will be used to accelerate the company’s product roadmap, particularly innovations that integrate machine learning (ML) and AI algorithms within customers’ digital business operations. UiPath will also open new offices in Amsterdam, Houston, Munich, Paris, Seoul and Washington D.C. this quarter, adding to their global team of 590 professionals working across 14 countries.

Daniel Dines, co-founder and CEO for UiPath, said:

I am thrilled to have such a strong set of investors and thought leaders supporting UiPath, and I am especially grateful for the continued support of Accel. RPA is proving to be an unrivaled technology for driving real digital transformation and delivering better business outcomes incredibly fast. With our tremendous growth in 2017, it is now clear that every organization in the world can benefit significantly from RPA. With the substantial commitment today by Accel, CapitalG and Kleiner Perkins, we are deepening our resolve to accelerate the delivery of AI through the UiPath platform, helping organizations and workers quickly become more sophisticated in everything they do.

To find out more about UiPath's success story and read supporting quotes, head over to their press release.