CORRECTING and REPLACING UiPath Raises $225 Million Series C, Led by CapitalG and Sequoia

Funding Rounds

▤ Summary

UiPath deepens its commitment to accelerate real Artificial Intelligence (AI) outcomes through Robotic Process Automation (RPA) for organizations of all sizesThe company announced in early July that it had increased its annual recurring revenue from $1M to $100M – a feat it believes no other enterprise subscription software business has accomplished in such a short time.The company plans to use the additional funding to support its accelerated product development ambitions, deepen its ecosystem of partnerships to deliver complementary AI-enabled solutions, broaden the role of RPA in enterprise process automation initiatives and invest in M&A opportunities.The company has raised over $400 million from tier one investors, including Accel, CapitalG, Credo Ventures, Earlybird’s Digital East Fund, Kleiner Perkins Caufield Byers, Seedcamp and now Sequoia.We strongly believe that RPA is a primary route for organizations to benefit from AI, and UiPath is proving this potential with its unparalleled growth and incredible customer impact.

$ Funding

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Amount $265.0M Total raised
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Date September 18, 2018 Announcement date
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Investors CapitalG, UiPath Lead investors
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Company http://www.uipath.com Funded company

▥ Classifications

industries
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applications
Accounting and Taxes

◇ AskAI Classifications

Labels
Enterprise Automation Software Robotic Process Automation (RPA) Business Process Management (BPM) Software

▦ Linked Companies

UiPath
$1B+