UiPath, a robotics process automation platform targeting IT businesses, is raising more than $400 million in Series D funding from venture capital investors at a valuation north of $7 billion, sources have confirmed to TechCrunch following a report from Business Insider.
We’ve reached out to the company for comment.
UiPath, founded in 2005, has raised $409 million to date, meaning the new round of capital will double the total capital invested in the startup, as well as its valuation. Its $225 million Series C, raised just six months ago, valued the business at $3 billion, according to PitchBook. UiPath is backed by top-tier investors CapitalG and Sequoia Capital, which co-led its Series C, as well as Accel, Credo Ventures and Earlybird Venture Capital, among others.
The latest funding round is being led by a public institutional investor.
UiPath develops automated software workflows meant to facilitate the tedious, everyday tasks within business operations. RPA is probably a misnomer. It’s not necessarily a robot in the way we think of it today. It’s more like a highly sophisticated macro recorder or workflow automation tool, letting a computer handle a series of highly repeatable activities in a common workflow, like accounts payable.
For example, the process could start by scanning a check, then use OCR to read the payer and the amount, add that information to an Excel spreadsheet and send an email to a human to confirm it has been done. Humans still have a role, especially in processing exceptions, but it provides a way to bring a level of automation to legacy systems, which might not otherwise benefit from more modern tooling.
The company began raising private capital in 2015 and has since experienced rapid growth of its valuation and annual recurring revenue (ARR). UiPath garnered a $1.1 billion valuation with its Series B in March 2018, more than doubled it with its Series C and is again seeing a 2x increase in value with this latest round. This is a result of its swelling ARR.
Join 10k+ tech and VC leaders for growth and connections at Disrupt 2025
Netflix, Box, a16z, ElevenLabs, Wayve, Hugging Face, Elad Gil, Vinod Khosla — just some of the 250+ heavy hitters leading 200+ sessions designed to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss the 20th anniversary of TechCrunch, and a chance to learn from the top voices in tech. Grab your ticket before doors open to save up to $444.
Join 10k+ tech and VC leaders for growth and connections at Disrupt 2025
Netflix, Box, a16z, ElevenLabs, Wayve, Hugging Face, Elad Gil, Vinod Khosla — just some of the 250+ heavy hitters leading 200+ sessions designed to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss a chance to learn from the top voices in tech. Grab your ticket before doors open to save up to $444.
The company says it went from $1 million to $100 million in annual recurring revenue in less than two years. With its Series C, it counted 1,800 enterprise customers and was adding six new customers a day. Sources tell TechCrunch that UiPath did 180 million in ARR last year and is on track to do $450 million in ARR in 2019.
Blue Prism looks to partners to expand robotic process automation with AI
