Romanian startup UiPath gets $153 mln funding, becomes unicorn

Romanian startup UiPath gets $153 mln funding, becomes unicorn CEO and founder of UiPath Daniel Dines

BUCHAREST (Romania), March 6 (SeeNews) - Romanian robotic process automation (RPA) startup UiPath said on Tuesday it has obtained a $153 million (124 million euro) Series B investment led by venture capital firm Accel Partners, boosting its market value to over $1.1 billion.

"It's official: UiPath has raised $153 million in Series B funding and becomes a Unicorn, with $1.1 billion valuation," UiPath wrote in a post on Twitter.

'Unicorn' is a popular term used when a startup company is valued at over $1 billion.

CapitalG (formerly Google Capital) and Kleiner Perkins also participated in the financing round, UiPath said in a press release.

"This investment will allow us to accelerate our product roadmap – the computer vision we have built into the product is now powered by machine learning – and extend our collaboration with solutions from the AI space that will tie in perfectly with RPA’s agnosticism to create powerful new use cases for our customers’ digital businesses," the startup said.

UiPath also plans to invest heavily in the expansion of its global operations, with a focus on robust product support, customer success teams and sales efforts across all time zones and geographies.

In April, UiPath obtained another $30 million Series A funding from Accel, which it has used to accelerate its global expansion and product development.

UIPath is a US-based company founded in Romania, with additional offices in the UK, India, Singapore and Japan. The company has 200 global customers, such as Cognizant, Deloitte, KPMG, PWC, and TCS. Currently, the company employs 590 in 14 countries,

($=0.8100 euro)

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