UiPath raises 120 million USD funding and the company's valuation jumps the 1 billion barrier - UPGRADE 100 News

UiPath raises 120 million USD funding and the company’s valuation jumps the 1 billion barrier

The first Romanian unicorn? Myth versus reality” was Marius Istrate’s presentation @iCEE.fest 2017. CPO @ UiPath, he told us how a company from Bucharest managed to establish itself as a global leader in the Robotic Process Automation industry.

9 months later, TechCrunch announces us that there’s no myth, UiPath truly is the first Romanian unicorn:

“TechCrunch has learned that UiPath has raised a Series B round of funding that sources tell us is around $120 million — a round that will catapult it to a valuation of over $1 billion”

This round of funding will be focused on a global hiring push to support the huge demand for our product on the market“, said Daniel Dines (CEO & Founder, main photo) for icee.news, last year, after UiPath just raised a $30M funding from Accel Partners.

  • Here you can read the complete interview

At that time, UiPath was valued at around only $109 million [source] so this last round of funding increases the company’s valuation nearly tenfold.

TechCrunch is confident that an official announcement of the funding will come these days.

About UiPath

UiPath uses AI tools like computer vision, machine learning and natural language processing to automate some of the more mundane tasks around administrative systems and processing “paperwork” such as filling out insurance claims, processing invoices, and most recently, running customer contact center operations.

In November last year the company said that it counted over 300 large enterprises as customers, not just in the financial sector, but also healthcare, telecom, public sector, and more.

The startup also partners with the wide array of integrators and software providers that these enterprises are already using to help build and run their IT systems, including the likes of Oracle, Accenture, Capgemini, Symphony Ventures and many others.

Bonus: What’s a unicorn? A startup company valued at over $1 billion 🙂