• Ishaan kakkar

Robotic process automation platform UiPath raised $750 mn at $35 bn valuation

UiPath, one of the leaders in the quickly growing robotic process automation (RPA) space, recently raised $750 mn in Series F funding at a staggering post-money valuation of $35 bn. Existing backers Alkeon Capital and Coatue co-led the round, with participation from other investors like Altimeter Capital, Dragoneer, IVP, Sequoia, Tiger Global, etc.

UiPath’s self-proclaimed mission is “to unlock human creativity and ingenuity by enabling the Fully Automated Enterprise™ and empowering workers through automation.” Its Automation Platform aims to “transform the way humans work” by giving companies a way to build out and run automations across departments.

The company uses AI and machine learning (ML) in an effort to “automate millions of repetitive, mind-numbing tasks for business and government organizations all over the world, improving productivity, customer experience and employee job satisfaction.” Its goal is to give workers the mental energy and time to focus on more complex jobs. Competitors include Microsoft Power Automate, Blue Prism, Automation Anywhere.

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