When it comes to robotic process automation (RPA), UiPath is one of the main parties. Now the company seems to be on the verge of concluding a fundraising round, which will bring the company’s valuation above $6 billion (€5.2 billion).
UiPath has been attracting a great deal of investment for some time now. Since 2017, it has raised a total of 448 million dollars (394.6 million euros) in three investment rounds. Most recently, in November, the company’s valuation came to 3 billion dollars (2.6 billion euros). The Business Insider site now reports, based on several anonymous sources, that conversations are taking place between UiPath and investors, investing between 300 and 400 million dollars (264 and 352 million euros) extra.
Extremely valuable startup
This investment could result in UiPath’s valuation being twice as high. When the deal is complete, the company will be valued at between 6 and 7 billion dollars (5.2 and 6.1 billion euros). This makes UiPath one of the most valuable AI start-ups in the world, even more valuable than Chinese SenseTime, which has an estimated value of 4.5 billion dollars (3.6 billion euros).
Until now, UiPath mainly raised money from venture capitalists such as Accel, CapitalG and Sequoia Capital. But in this investment round it will for the first time raise money from institutional investors such as Coatue, T. Rowe Price and Blackstone. They have great confidence in the company, which occupies an important position in an increasingly valuable market.
Automating tasks
UiPath is one of the leading companies in the field of RPA. This sector is an extension of the development of artificial intelligence. The underlying idea is simple: software robots keep an eye on the workflow within companies and figure out which tasks are regularly recurring. The software robots then take over these tasks.
To this end, UiPath has already built up an extensive ecosystem. In addition to a platform, there is a free training programme, a free edition for students and small businesses, and developers can consult each other on forums. Several U.S. government agencies are already using the technology.
This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.
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