Earlybird Venture Capital: UiPath closes $225mln funding round

Bots developed by UiPath are currently being used in the U.S. health care system to help tackle the COVID-19 pandemic

  

* The software company founded in Bucharest and headquartered in New York says it closed a funding round of $225 million.

* Earlybird has been part of UiPath since day one and remains the second largest investor in continental Europe’s most valuable non-listed start-up.

* Says UiPath will use this funding to deepen its investment in research and development, especially in the field of Artificial Intelligence.

* Says while industrial robots have taken over manufacturing processes, UiPath is the global market leader for software robots automating business processes.

* Bots developed by UiPath are currently being used in the U.S. health care system to help tackle the COVID-19 pandemic and by the government to accelerate emergency financing applications from companies hardest-hit by the crisis.

* The Bucharest and New York-based software start-up now has a valuation of $10.2 billion.

* UiPath’s software robots can be used to automate rule-based processes and tasks in the workplace or across departments, so that companies can increase their efficiency, reduce costs or improve service quality.

(Bucharest Newsroom) ((bucharest.newsroom@thomsonreuters.com))

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