UiPath, a robotic process automation firm, has raised $750 million in Series F funding round at a post-money valuation of $35 billion, according to ET report. Existing investors Alkeon Capital and Coatue co-led the funding round. Last year, the startup raised $225 million in funding.
Other investors that participated in the round include Altimeter Capital, Dragoneer, IVP, Sequoia, Tiger Global, and funds and accounts advised by T. Rowe Price.
“Automation has become a strategic imperative that is fundamentally changing the way organizations operate. We are excited to co-lead this round of funding, as well as continue to team up with the UiPath team during an important phase for the company,” said Abhi Arun, Managing Partner at Alkeon Capital.
Founded in 2005, UiPath provides robotic process automation solutions to companies, helping them automate several repetitive business processes. Its automation platform provides customers with a set of capabilities to build, manage, run, engage, measure, and govern automation across departments within an organisation.
Based in New York City, UiPath’s presence extends to 31 offices across 19 countries throughout North America, Europe, and Asia.
The firm has a significant presence in India, with more than 370 employees, including a 75-member engineering team in Bengaluru as of April last year. It has over 400 customers including Karnataka Bank, Bank of India, Max Healthcare, Quess, Tech Mahindra, and Wipro among others.
