Gunderson Dettmer client UiPath, a robotic process automation software company, raised $568 million in a Series D financing that brought the company’s valuation to $7 billion. The round of funding was led by Coatue Management with investors Dragoneer, Wellington, Sands Capital, T. Rowe Price Associates, Accel, CapitalG, Sequoia, IVP and Madrona Ventures also participating.

In the announcement of the deal Daniel Dines, UiPath’s co-founder and CEO said, “We are at the tipping point. Business leaders everywhere are augmenting their workforces with software robots, rapidly accelerating the digital transformation of their entire business and freeing employees to spend time on more impactful work. UiPath is leading this workforce revolution, driven by our core determination to democratize RPA and deliver on our vision of a robot helping every person. I am humbled by the amazing support our customers, partners and investors give us every day, inspiring us to work harder to evolve RPA as the platform that not only unlocks the true potential of AI, but also other emerging technologies. We are just getting started.”

The Gunderson Dettmer deal team included Richard Hesp, David Horne, Keith Scherer, Chris Crawford, Peter Schoch, Jeff Vetter, James Hauser, Chris Sintetos, Vanessa Smith and Frances Sevilla-Sacasa.