UiPath, a US-based robotic process automation company with its development center in India, has closed its Series D investment around raising $568 million in a post-money valuation of $7 billion, based on a news release issued from the business. This round of financing was led by Coatue and combined by Dragoneer, Wellington, and Sands Capital. Accel, which led the Series A and B rounds, also CapitalG and Sequoia, which led the Series C round, participated in this round as well, as did other existing investors, such as IVP, and Madrona Venture Group.
UiPath claimed at $7 billion valuations, it’s among the quickest growing and most valuable artificial intelligence business software companies. UiPath closed his series A financing in Apr 2017, and ever since then has expanded on its important milestones. At the 2 decades hence, it’s grown the annual earnings from $8 million to $200 million whereas the valuation rose from $110 million to $7 billion. We’re at the tipping point. Business leaders are augmenting their workforce with software robots, quickly accelerating the digital transformation of their whole company and freeing employees to spend time on more impactful work, says Daniel Dines, CEO and UiPath Co-founder.
Outlining the huge possibility of robotic process automation and the possibility of making India the basis of automation ability globally, Raghu Subramanian, president and Chief executive officer of UiPath India, states, The opportunities for UiPath at a diverse nation like India are massive, which range from sectors such as IT in BFSI and health care to authorities. More than that, India is in an excellent position to become an RPA powerhouse, due to the rapid adoption of RPA and AI along with the growing talent pool. We’re committed to investing to realize that our vision of a robot for each person and create a talent base of over 500, 000 automation trained professionals, he added.