UiPath, the leading Enterprise Robotic Process Automation (RPA) software company, has closed its series C funding co-led by existing investor CapitalG and new investor Sequoia Capital. The company raised $225 million, which currently positions them at a valuation of $3 billion.
UiPath thus deepens its commitment to accelerate real Artificial Intelligence (AI) outcomes through Robotic Process Automation (RPA) for organizations of all sizes. Going from $1M to $100M in annual recurring revenue in less than 21 months, makes it likely to be the fastest growing enterprise software company in history.
UiPath counts more than 1,800 global customers and is adding six new enterprise customers per day; the company expects annual recurring revenue at the end of 2018 to increase by more than four times compared to the end of 2017.
UiPath is the most widely adopted Enterprise RPA platform, enabling the rapid design and deployment of software robots. The company was named a leader in The Forrester Wave™: Robotic Process Automation, Q2 2018, achieving the highest score in the “Current Offering” category and the highest possible score in “Market Presence.”
Read more in their official statement.