Automation Company UiPath Raises $568 Million

UiPath, a “robotic process automation” startup, has announced it raised $568 million in its Series D funding round. Long since a unicorn, it’s now valued at $7 billion with this round.

This funding round was backed by Coatue Management, with participation from Sands Capital, Wellington, CapitalG, Accel, Sequoia Capital, IVP, Dragoneer and Madrona Venture Group.

UiPath’s total funding has now reached $1 billion. It lased raised $225 million in its C funding round last year.

NYC based UiPath’s specialty is helping businesses automate repetitive tasks that require software. Among its current customer base are Voya Finanical, McDonalds, Uber, Virgin Media and Google.

“UiPath is leading this workforce revolution, driven by our core determination to democratize RPA and deliver on our vision of a robot helping every person,” said Daniel Dines, CEO of UiPath, in a statement. “I am humbled by the amazing support our customers, partners, and investors give us every day, inspiring us to work harder to evolve RPA as the platform that not only unlocks the true potential of AI, but also other emerging technologies. We are just getting started.”

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