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UiPath Raises $225 million Series C led by CapitalG and Sequoia valuing the business at $3 billion.

Tuesday, September 18, 2018

UiPath, Romania’s first IT unicorn, tripled its value in six months after receiving $225 million in a new funding round from Sequoia Capital and Google’s CapitalG, the WSJ reports.  The Robotic Process Automation (RPA) software provider, currently a market leader, began as a Bucharest-based startup founded by a team of ten led by Daniel Dines, the company’s CEO and Marius Tirca (CTO).

The new funding round, led by Sequoia Capital and Capital G, comes six months after the company raised $153 million from Accel, Capital G and KP, and saw its valuation shoot to $1 billion, achieving unicorn status. So far, the company has received USD 400 million in funding.

“After years toiling in obscurity, three startups have suddenly hit the jackpot in a corner of the enterprise-software market sprinkled with artificial intelligence,” the WSJ writes about UiPath Inc., Blue Prism Group PLC and Automation Anywhere Inc. “Now they are racing to one-up each other to appear the market leader.”

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