Robotic Process Automation Leader UiPath Reaches $35B Valuation
UiPath secures $750 million in Series F funding, pushing its valuation to $35 billion as it prepares for a highly anticipated public offering.
UiPath closes a $750 million Series F funding round that pushes its post-money valuation to an impressive $35 billion. Alkeon Capital and Coatue co-lead the investment, with strong participation from other returning investors like Sequoia and Tiger Global. This new capital brings the New York-based company's total funding to nearly $2 billion.
The robotic process automation leader currently generates around $360 million in annual revenue and serves over 6,300 customers, including major corporations like Amazon and Bank of America. UiPath uses artificial intelligence to handle repetitive tasks for businesses, which frees up human workers to focus on more complex and creative projects.
This massive funding round arrives just weeks after UiPath submits a draft registration to the SEC for an initial public offering. Industry watchers view this late-stage raise as a strategic move that mirrors other successful tech IPOs, leading many to predict that UiPath becomes the standout public debut of 2021.