Automation is here to stay: UiPath
Speaking in a session in Delhi, on how organizations are seeing next phase of growth in automation, which is a process with “automation first” era- there will be one robot for every person, delivering free and open training and collaboration and enabling robots to learn new skills through AI and machine learning, says Rajeev Mittal, Managing Director-India, UiPath. UiPath is improving business performance, efficiency and operation in a way we’ve never seen before. At the $7 billion valuation, UiPath is one of the fastest growing and highest valued AI enterprise software companies worldwide.
UiPath raised $568 million in its Series D funding, which was announced on April 30, 2019. The round was led by Coatue and joined by Dragoneer, Sands Capital, T. Rowe Price Associates, and Wellington. Previous investors Accel, CapitalG, IVP and Sequoia, among others, also participated in the round.
Automation is here to stay. UiPath is enabling the critical capabilities necessary to advance on how companies perform and how employees better spend their time. The industry has achieved rapid growth in such a short time , with UiPath at the head of it, largely due to the fact that RPA is becoming recognised as the paradigm shift needed to drive digital transformation, driving a new era of productivity, efficiency and workplace satisfaction. With the open architecture and the technology eco-system we beings, we work as a platform company. Low hanging fruit in digital era is automation, says Rajeev .
Organizations realize the need for a strategic framework when they cross a threshold of bot deployment. While automation starts with the focus in automating business processes for productivity gains and cost savings, scaling up automation requires it to be viewed as a method of augmenting workforce with digital capabilities.
Automation must become a strategic driver if it must scale up enterprise-wide. Automation needs to be viewed as a measure for better customer satisfaction resulting from more customer face-time and better customer experience.
UiPath plans to use the additional funds as follows:
* To sustain our commitment to your success while we continue exponential growth
* To deepen our investments in workforce education, including our higher education, automation educators and Youth-in-Automation program
* To ensure our partners’ success through expanded training, solution development, acceleration of technology partnerships and joint market engagement
* To accelerate our R&D and strategic product roadmap with an emphasis on applying AI to RPA, including investing in strategic M&A
* To raise awareness on the incredible outcomes for all organizations and their employee benefits realized from A Robot for Every Person
Lastly, in 24 months, RPA and AI leader has grown ARR from $8 million to over $200 million and valuation have reached from $110 million to $7 billion and #1 RPA vendor recognised by top industry analyst’s largest user base.
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