UiPath raises $153 million Series B round

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UiPath, an enterprise robotic process automation (RPA) platform company launched in 2015, has raised $153 million in Series B funding. Previous investor Accel led the round, with new investors CapitalG and Kleiner Perkins Caufield & Byers contributing. UiPath seed investors Earlybird’s Digital East Fund, Credo Ventures, and Seedcamp also participated in the round. The new funding pegs UiPath at a $1.1 billion valuation.

In 2017, UiPath’s customer base grew from less than 100 customers to more than 700, says the company. New customers include BMW Group, Dairy Farm Group, Dentsu, Huawei, and Sumitomo Mitsui Financial Group. UiPath says it also has a community of  120,000 RPA developers worldwide.

Accel partner Rich Wong will join the company’s board of directors, along with Accel partner Luciana Lixandru already serving on the board.

[Image courtesy: UiPath]