New York-based UiPath has raised $225M in a round of Series E financing led by Alkeon Capital Management.
The company said Monday it will use the investment to carry out research-and-development initiatives, advance its hyperautomation platform and expand its cloud offerings.
“This funding allows us to accelerate our platform ambitions to meet mounting customer demands and scale the tremendous opportunity to bring automation to one billion citizen developers ““ resulting in every business finally becoming a software business,“ said Daniel Dines, co-founder and CEO of UiPath.
Other companies that took part in the funding round are Accel, Sequoia Capital, Coatue, IVP, Dragoneer, Wellington, Madrona Venture Group, Tiger Global, Tencent and accounts and funds advised by T. Rowe Price Associates.
UiPath is an enterprise software company focused on developing robotic process automation and artificial intelligence platforms.