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US-based RPA Firm Raises $225 million from CapitalG and Sequoia Capital

19Sep By Gauri SinghNo Comments

FUNDING

US-based RPA Firm Raises $225 million from CapitalG and Sequoia Capital

Robotic Process Automation (RPA) software company UiPath has secured funds amounting to $225 million in Series C funding. The round was co-led by existing investor CapitalG and new investor Sequoia Capital. Another investor that participated in the funding round included existing investor Accel Partners. This particular fundraise has valued the company at $3 billion, a three-fold increase from $1 billion valuation in March. The RPA firm plans to use these funds to gear up its India operations and for product development. Also, the company plans to increase its India workforce from 250 to 1,200 by end of 2019. Along with this, a part of funds will also be used to expand its presence to eight cities including Chennai, Pune, Hyderabad and Kolkata, while ramping up workforce across all f...

RPA Startup Automation Anywhere Raises $250 Million

The cognitive robotic process automation platform called Automation Anywhere has secured an amount of $250 million in a funding round led by New Enterprise Associates and Goldman Sachs. With this fresh funding round, the company’s valuation has reached $1.8 billion. Automation Anywhere aims to utilize these funds in increasing its customer base in North America, LATAM, India, Europe, Australia, Japan, South Korea and Singapore (ASEAN). Along with this, it also has plans to employ the funds in expanding the technology in additional areas. “Customers tell us that traditional process automation technologies are capable of automating only about 20 percent of an enterprise’s business processes. We believe our Intelligent Digital Workforce Platform can automate up to 80 percent of these pr...

RPA Software Developer Automation Anywhere To Build Over 500 Bots

Automation Anywhere, a developer of robotic process automation (RPA) software has plans to produce over 500 bots. The company claims that it has over 210 pre-built bots in the Bot Store which is an online platform for the bots that enables the firms to download the RPA bots online and decrease the time involved in the organization and positioning of resources. The pre-built bots that are in the Bot Store have been manufactured by Automation Anywhere as well as by strategic partners including EY, Accenture, Genpact, InfosysNSE -1.08 % and Salesforce. “In just two months since launch, the number of bots in the Bot Store has grown from 100 to 210,” said Ankur Kothari, co-founder of Automation Anywhere. “These bots help accelerate automation in across industries and we will have over 500 ...