Daniel Dines, UiPath Co-founder and CEO

An RPA software provider, UiPath, has secured $568 million in a recent Series D investment round led by Coatue and joined by Dragoneer, Wellington, Sands Capital, CapitalG and Sequoia including other existing investors. The company’s valuation currently stands at $7 billion.

Daniel Dines, UiPath Co-founder and CEO, said, “We are at the tipping point. Business leaders everywhere are augmenting their workforces with software robots, rapidly accelerating the digital transformation of their entire business and freeing employees to spend time on more impactful work. UiPath is leading this workforce revolution, driven by our core determination to democratize RPA and deliver on our vision of a robot helping every person. ”

The company recently delivered six releases of its UiPath Enterprise RPA platform with defence-grade security, launched UiPath Go!, integrated AI by adding new capabilities like AI Computer Vision, and created an open and extensible architecture that has made UiPath the platform of choice for third-party RPA and AI development.

“UiPath is improving business performance, efficiency and operation in a way we’ve never seen before,” said Philippe Laffont, founder of Coatue Management. “The Company’s rapid growth over the last two years is a testament to the fact that UiPath is transforming how companies manage their resources. RPA presents an enormous opportunity for companies around the world who are embracing artificial intelligence, driving a new era of productivity, efficiency and workplace satisfaction.”

Founded in 2005, UiPath delivers open training, collaboration and enabling robots to learn new skills through AI and machine learning. The company’s RPA platform provides services to business and government organizations aiming to improve productivity, customer experience and employee job satisfaction.

by Megha Bhattacharya
Market Analyst at IBS Intelligence