Latest News  

The Romanian Unicorn: UiPath raises around 120 mln dollars investment for software robots for internal business tasks

TechCrunch has learned that Romanian RPA developer UiPath, a startup that builds ‘software robots' for enterprises to help automate legacy and back-office functions, has raised a Series B round of funding that sources tell us is around 120 million Us dollars — a round that will catapult it to a valuation of over 1 billion dollars.

2018-03-05 17:38:21

The company is announcing the funding this week. In april last year, the company announced it got 30 million dollars financing from Accel Partners, an American venture capital firm, specializing in seed, early and growth-stage investments and has funded many technology companies including Facebook, Dropbox, Atlassian, Flipkart, Spotify among others. The Series A funding includes a USD 1.6 million seed round UiPath raised last year from Earlybird, Credo Ventures and Seedcamp.

UiPath is a Romanian start–up based in USA and offices in six countries, specializing in development and selling of Robotic Process Automation / RPA solutions and products. In 2006, the current CEO of the company, Daniel Dines, had been completed a stage of his career at Microsoft Hq in US and, together with the current technology manager of UiPath, Marius Tirca, put the bases of their future dream that now encompasses UiPath.

In 2013, the start-up really started to take shape and emerged on the market with a ready-to-market product, an "enterprise" automation platform that currently, it is being sold to the largest corporations in the world, according to representatives of the company. Until 2015, the company secured its own financings and expanded with offices in US and, in August 2015, UiPath accessed the first seed-type investment round from Earlybird Venture Capital, Credo Ventures and Seedcamp. One year later, in 2016, following two product versions already launched and a team of programmers that grew from 25 to 100, UiPath opens offices in London, New York, Bengaluru, Singapore and Tokyo.

The start-up has about 200 large companies among its customers, including Lufthansa, Generali, Telenor and Dong Energy, besides companies operating in sectors such as banking and financial service, insurance manufacturing, utilities, healthcare and government. For the next five years, the company plans to achieve revenues of around 100 million US dollars.


0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
Co-working segment: CBRE advises Spaces in the opening of its biggest center in Romania

CBRE, the world and local market leader in real estate consultancy, advised on the leasing transaction of 4,100 sqm office space for the largest center to be opened by Spaces in Romania.

 Read Full article »
Francesca Postolache, Partner PwC joins People in Shared Services & Outsourcing Forum on October 18, at Bucharest

Francesca Postolache, Partner PwC, joins us next Thursday to take forward major subjects such as Digital Transformation and Next-Generation Talent Development.

 Read Full article »
Telekom Romania opens in Brăila its sixth BPO center

Telekom Romania announces the opening in Braila of BPO (Business Process Outsourcing) centre dedicated to companies that need such services and which prefer to rely on a professional and experienced provider

 Read Full article »
Delphi Technologies inaugurates global IT center in Bucharest

Delphi Technologies, a leading provider of advanced propulsion solutions to automotive manufacturers has opened its first multidisciplinary global IT center in Bucharest. This new site will provide information

 Read Full article »
London Stock Exchange Group appoints Andreea Stanescu as General Manager for Romania

London Stock Exchange Group (LSEG) announced that Andreea Stanescu has been appointed General Manager, Romania. Andreea will be reporting to Dee Liyanwela, Head of Business Services Ltd (BSL) Sri Lanka and Roma

 Read Full article »
Google to offer free courses for young programmers and business incubators

Google announced the launch of the "Digital Workshop for Programmers", aimed at offering free courses to students who want to learn to program and young people who want to become technology entrepreneurs. These

 Read Full article »
ANIS scholarships gathered 35 innovative projects since launch

Employers' Association of the Software and Services Industry (ANIS) announced it registered 35 innovative projects within the first edition of its program called "ANIS' Scholarships".

 Read Full article »
Matthieu Pasquier is the new CEO of Societe Generale European Business Services

The Board of Societe Generale named Matthieu Pasquier as the new CEO of Societe Generale European Business Services, effective July 16, the company announced.

 Read Full article »
KMG Rompetrol chooses Oracle Cloud to reduce the IT costs and power consumption

KMG Rompetrol, eading provider of retail, refining and petrochemical services in Romania, has chosen Oracle Cloud to reduce IT operating costs and power consumption. KMG Rompetrol has transferred its Oracle E

 Read Full article »
Cognizant acquires Romanian-rooted digital engineering leader Softvision

Cognizant recently announced it has entered into a definitive agreement to acquire Softvision, LLC, a privately-held digital engineering and consulting company focused on agile development of innovative softwa

 Read Full article »
 
 
MOST READ ARTICLES
» Andrei Romanescu, Managing Director of...
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» Delphi Technologies inaugurates global...
» Isarescu: Economy will grow above pote...
» Grégoire Vigroux appointed the new Vi...
» Exclusive OT print issue: Ericsson - ...
» Healthcare IT outsourcing market is ex...
» How giving back pays dividends for com...
» Wizrom is looking for 40 consultants w...
» Francesca Postolache, Partner PwC join...
 
EDITOR CHOICE
Olga Botusan, Stefanini, keynote speaker at People in Shared Services & Outsourcing Forum on October 18, at Bucharest

This Thursday, at People in Shared Services & Outsourcing Forum 2018, Olga Botusan EMEA HR Director at Stefanini joins us to talk about Digital Transformation and Next-Generation Talent Development.

 Read Full article »
Colin Lovering to moderate the talks of People in Shared Services & Outsourcing Forum on October 18, at Bucharest

The moderator of the 4th edition of the annual event dedicated to the human resources in shared services & outsourcing industry, COLIN C. LOVERING ISM, Chairman of BRCC and Senior VP, Avison Young Real Estate i

 Read Full article »
Andrei Mihai Crăciun joins the speakers of People in Shared Services & Outsourcing Forum on October 18, at Bucharest

Andrei Mihai Crăciun the Head of office for Innovation, Technological Transfer and Intellectual Property Office from West University of Timisoara will be joining us to discuss whether the private-state actors

 Read Full article »
Sergiu Negut, on the stage of People in Shared Services & Outsourcing Forum on October 18, at Bucharest

On October 18th, Sergiu Negut joins People in Shared Services and Outsourcing Forum to share with us his ideas of ways to support the industry's human capital necessities and create a more efficient cooperation

 Read Full article »
Ready for People in Shared Services & Outsourcing Forum on October 18, at Bucharest

Join us to get access to the latest strategies to develop talent within your organization and to achieve employee engagement.

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area | GDPR policy
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events