Business

UiPath Raises $153 Million Series B Led by Accel Following Record Growth

UiPath, a leading enterprise robotic process automation (RPA) software company, has raised $153 million in Series B funding following a year of record growth.

Previous investor Accel led the round, with new investors CapitalG and Kleiner Perkins Caufield & Byers contributing. UiPath seed investors Earlybird’s Digital East Fund, Credo Ventures, and Seedcamp also participated significantly in the round.

UiPath is the first Romanian Unicorn with $1.1B valuation.

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.”

Accel led both Series A and Series B capital raises, and Accel Partner Rich Wong will join the company’s board of directors, along with Accel partner Luciana Lixandru already serving on the board.

Luciana Lixandru, Partner, Accel

“When I first met Daniel, I was inspired by his vision to use RPA to drive digital transformation, and by his focus on building the leading product in the space. UiPath already had significant inbound interest for its software and was selling to blue chip companies around the world, including the U.S. Since we first invested in 2017, demand from new and existing customers has accelerated, resulting in phenomenal company growth. We’re delighted to be reinvesting and to continue supporting this ambitious company.”

Read the full press release on UiPath’s press room.

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