UiPath, a robotic process automation (RPA) company, recently announced the successful close of its series F funding round, with $750 million in capital. The series F funding round was led by existing investors such as Alkeon Capital, Coatue Management, Dragoneer Investment Group, IVP, Sequoia Capital, and Tencent Holdings.
The additional capital will help UiPath continue its mission of helping humans and robots work together to automate business processes. This article will look closely at the investors in the series F funding round.
Overview of UiPath
UiPath is a leading robotic process automation (RPA) company based in Romania. It provides Enterprise RPA software dedicated to automating routine tasks for efficient and cost-effective operations. Founded in 2005, UiPath recently closed a Series F venture funding round, valuing the company at $35 Bn USD and making it the most valuable enterprise software company outside of China. Investors in this latest funding round include Alkeon, Coatue Management, Dragoneer Investment Group, IVP and Sequoia Capital.
UiPath has developed cutting-edge RPA technology that stands out from other Automation Anywhere or Blue Prism competitors due to its advanced features such as natural language recognition & processing capabilities and machine learning models that enable companies to apply cognitive automation to their business processes. UiPath’s technology largely focuses on improving customer experience by automating tedious manual tasks and disrupting long processes. Additionally, UiPath’s StudioX platform enables enterprises to create robotic solutions tailored specifically for each client’s needs without any coding skills required.
In 2020 alone, UiPath saw exponential growth with its flagship product platform ‘UiPath Platform’ surpassing $100M ARR by Q3 end of 2020 and expanding into different markets – with offices now across Singapore (HQ), London & New York amongst other cities worldwide. It currently serves 350+ Fortune 500 clients such as Google Cloud, Nissan Motor Corporation (Japan), Coca Cola Bottling (Brazil), Lufthansa AirPlus Services GmbH (Germany)and Takeda Pharmaceuticals Corporation (Japan) amongst others globally.
Investors in UiPath’s Series F Funding Round
UiPath recently announced that it had closed a massive $750 million in Series F financing. UiPath is now valued at more than $35 billion with this funding.
This new round of funding was led by Coatue and Dragoneer, accompanied by returning investors Alkeon Capital, Atomico, IVP and Accel.
This article will look at the investors in UiPath’s Series F funding round.
UiPath Closes $750 Million in Series F Funding (historical material)
UiPath secured $750 million in its Series F funding round on April 13, 2021, led by Alkeon Capital with participation from Tencent, capitalG (Google Capital), Coatue, and Dragoneer Investment Group. The round represented the largest single venture capital financing in the history of enterprise software, and valued UiPath at an unprecedented $35 billion.
Alkeon Capital is a New York based asset management company specialising in long/short equity investments across multiple sectors worldwide. It was founded by Wei Lu in 2002 and currently has over $15 billion under management.
Alkeon has extensive experience with investing in software companies and has previously invested other enterprise software titans such as Palanatir, Tanium, Twilio, Epic Systems Corporation, Slack Technologies Inc., HubSpot Inc., DocuSign Inc., Okta Inc., Workday Inc., ServiceNow Inc., Zoom Video Communications as well as many others.
By leading UiPath’s Series F funding round Alkeon signals its faith in the company’s business model and potential for future growth. With their backing UiPath is now better equipped to take advantage of opportunities to expand its market share and provide automated solutions to customers worldwide while continuing to develop a good existence through innovation within the automation industry.
Coatue Management
Coatue Management is a U.S.-based investment advisor backed by New York City-based Coatue Management LLC. The firm currently invests in various assets, including direct and managed investments, private assets, public equity and credit markets, venture capital and special situations. In 2019 it received the “Best Performing Hedge Fund” award from Institutional Investor Magazine.
Partnering with Coatue Management during UiPath’s Series F funding round was a strategic move for UiPath, as the firm has extensive experience scaling enterprise software companies like Slack and DocuSign. Through this partnership, UiPath will benefit from Coatue’s deep understanding of the enterprise software space and their insights into global trends impacting the space. The recognition that investors like Coatue bring will be critical in helping UiPath continue to drive innovation for robotic process automation (RPA) technology worldwide.
Dragoneer Investment Group
Dragoneer Investment Group is a private investment firm focused on providing growth capital to category-leading companies, emphasising technology. Based in San Francisco, the firm manages over $7 billion of investments across public equities, venture capital and private equity investments.
Dragoneer Investment Group was one of the key investors in UiPath’s Series F funding round, joining existing investors Alkeon Capital, Coatue Management, Dragoneer Investment Group, Durable Capital Partners LP and Tiger Global Management as well as a new investor and global advisory firm KKR. The funds raised from this round will be used to accelerate UiPath’s enterprise automation platform and expand its customer success programs globally.
Durable Capital Partners
Durable Capital Partners was one of the investors in UiPath’s Series F funding round, joining existing shareholders Accel, CapitalG (formerly Google Capital) and IVP. Durable brought a strategic angle to the round, adding exposure to the rapidly expanding automation and artificial intelligence market.
Founded in 2017 by Stefan Kaluzny and Andrew Buskell, Durable is a growth-oriented venture fund that invests in early to late-stage technology companies including Armoire, AgShift and Auth0.
IVP
Institutional Venture Partners (IVP) was one of the main investors in UiPath’s Series F round, which brought the total amount of capital invested in the company to just under $2 billion. IVP is a leading venture capital firm that works with growth-stage and late-stage technology companies. Founded in 1980 and based in Menlo Park, California, they have offices worldwide including London, New York and Beijing.
They have invested in notable startups such as Dropbox, Slack, Snap Inc., Expedia Group Inc., Supercell, and Tumblr. The firm is also a minority shareholder in UiPath with plans to help support UiPath’s growth, along with other investors such as Coatue Management LLC, Dragoneer Investment Group and Alkeon Capital Management. The terms of their involvement were not disclosed.
Sands Capital
Investment management firm Sands Capital took part in UiPath’s Series F funding round, which raised over $830 million. The firm has $46 billion in assets under management and specialises in “long-term growth investing”. They focus on companies with strong competitive advantages and the potential for long-term growth.
They focus on technology and healthcare, with more of a focus on healthcare. Their investments are based on the belief that these industries represent large opportunities due to their data-driven operations and trends of increased demand from consumers and businesses alike.
With UiPath, Sands Capital believes it is well positioned to drive further automation across many industries, benefiting both customers and employees alike.
Tiger Global Management
Tiger Global Management, one of the investors in UiPath’s Series F funding round, is an American hedge fund that makes investments in public and private companies. The firm offers worldwide exposure to global capital markets and expertise in technology, emerging markets, consumer sectors, healthcare and services.
Additionally, the company provides private equity capital to businesses worldwide, focusing on technology-driven industries. Tiger Global Management currently holds investments from over 150 private companies in 20 countries throughout Asia, Europe and the Americas.
Like other leading investors such as Alkeon Capital Management, Coatue Management LLC and Sands Capital Ventures LLC., Tiger Global’s investment in UiPath highlighted its interest in innovative AI-driven automation solutions for enterprises.
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