UiPath Raises $225M Series E Financing
Gunderson Dettmer represented client UiPath, the leading Robotic Process Automation (RPA) company, in its $225 million Series E financing bringing the company’s post-valuation to $10.2 billion. The round was led by Alkeon Capital with participation from Accel, Coatue, Dragoneer, IVP, Madrona Venture Group, Sequoia Capital, Tencent, Tiger Global, Wellington, and funds and accounts advised by T. Rowe Price Associates, Inc.
In the announcement of the transaction Co-Founder and CEO of UiPath Daniel Dines said, “We will advance our market-leading platform and will continue to deepen our investments in AI-powered innovation and expanded cloud offerings. COVID-19 has heightened the critical need of automation to address challenges and create value in days and weeks, not months and years. We are committed to working harder to help our customers evolve, transform, and succeed fast in the new normal.”
The Gunderson deal team was led by Richard Hesp and included Jeff Vetter, Jim Hauser, Peter Schoch, David Horne, Chris Crawford and John Maciejewski.