uipath-robotic-process-automation-funding

UiPath Inc disclosed on it had raised $750 million in a fundraising round that valued the robotic software startup at $35 billion, ahead of a high-profile initial public offering (IPO) later this year.

The round was led by existing investors Alkeon Capital and Coatue, with Altimeter Capital, Dragoneer, IVP, Sequoia, Tiger Global and funds advised by T. Rowe Price Associates Inc also taking part in the fundraising.

The New York-based startup said in December that it had filed confidentially for an IPO with the U.S. Securities and Exchange Commission (SEC).

The pandemic has boosted UiPath’s business as a shift to remote working drove companies to intensify their search for automated solutions.

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