UiPath valued at three billion US dollars after new funding round

Romanian unicorn UiPath –  which develops platforms for Robotic Process Automation (RPA) – has reportedly completed a new funding round at a 3 billion US dollar valuation, according to a report in the Wall Street Journal. The new finance comes just six months after a prior round valued the company at 1.1 billion US dollars, according to Emerging-Europe.com.

The new round – which has raised 225 million US dollars – was lead by CapitalG, the investment arm of Alphabet Inc., the parent company of Google. Sequoia and Accel also took part in the new investment, which brings the total amount raised by UiPath to 400 million US dollars.

Although now headquartered in New York, UiPath has retained Romanian roots. Earlier this year the firm announced that it was opening a new base in Romania, in the Transylvanian city of Cluj. The decision to create a new RPA development hub in Cluj was prompted by the acquisition of the Smart Data Platform technology from Recognos, a Cluj-based software company.

“UiPath’s Cluj office is the latest addition to our expanding global operation, and it made perfect sense to open our second Romanian office here as we will tap into an impressive IT talent pool,” said Daniel Dines, CEO and co-founder of UiPath, pictured above. “As our fourth product development hub, the smart minds of Cluj will work in a truly global team alongside our developers in Bucharest, Bellevue, and Bengaluru”, added him.

 

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