Accel leads $30m series-A for UiPath

Previous investors Earlybird Venture Capital, Credo Ventures and Seedcamp also took part in the round.

The new funding will be used predominantly on hiring new staff to keep up with increasing product demand. The company will also invest in product development and artificial intelligence capabilities.

Previous funding
In July 2015, Earlybird, Credo and Seedcamp structured a round of growth capital funding for UiPath. The terms of the deal were not disclosed.

Company
Established in 2012, UiPath is a developer of robotic process automation software for intelligent process automation solutions. It aims to cut corporate spending on HR, finance, accounting and operations through digitalisation. The company is US-based but headquartered in Bucharest, Romania, with additional offices in the UK, India, Singapore and Japan.

The company reported a sixfold growth rate in 2016 and has 200 clients globally (75% of which have revenues in excess of $10bn). It currently employs around 150 people.

People
Accel Partners – Luciana Lixandru (partner).
Earlybird Venture Capital – Dan Lupu (partner).
UiPath – Daniel Dines (CEO).

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