UiPath raises $225 million; pegs valuation at $3 billion

Enterprise robotic process automation (RPA) company UiPath has raised $225 million in a Series C round. The investment was co-led by existing investor CapitalG and new investor Sequoia Capital. Accel, which led both UiPath Series A and B rounds also participated in this round. The funding pegs UiPath at a valuation of $3 billion. 

UiPath plans to use the additional funding to support product development, deepen its ecosystem of partnerships to deliver complementary AI-enabled solutions, broaden the role of RPA in enterprise process automation initiatives, and invest in M&A opportunities, the company said in a statement.

UiPath says it expects to end 2018 with more than 1,700 employees; a three-fold increase in 12 months; with operations in 30 offices across 16 countries.

[Image courtesy: UiPath]