Sony Digital Rapids Pixel Power calrec Sony

UiPath Closes Series C Funding Extension with Investment from IVP, Madrona Venture Group and Meritech Capital

15/11/2018

Consistent with UiPath's Culture, Employees Participated in a Partial Liquidity Program to Share in Value Creation

NEW YORK NOVEMBER 14, 2018 UiPath, the Robotic Process Automation (RPA) market leader, has closed an extension of its Series C financing with a strategic investment from IVP, Madrona Venture Group and Meritech Capital. With this extension added to the first closing of the Series C round announced in September, UiPath's Series C financing now totals $265 million at a valuation of $3 billion; it was led by CapitalG and Sequoia Capital.

In addition to bringing in strong partners to support UiPath, the funding extension was created by enabling employees to gain some liquidity. Employees were invited to participate at the same share price that investors received in the round. This fundamental employee benefit is in line with the company's culture and is an example of a benefit that landed UiPath as Comparably's 6th happiest place to work in 2018.

I am honored to have IVP, Madrona Venture Group and Meritech Capital as new investors in UiPath. Their leadership and guidance will no doubt help us continue to define and lead the Automation First era for customers everywhere. UiPath has had many funding options and I believe we have selected the investors that align best with our culture and beliefs. I am humbled as the syndicate of unquestionably top-tier venture capital firms who believe in UiPath and support our future, said UiPath CEO and co-founder Daniel Dines. Additionally, it is a core UiPath principle to share the success of the company in a meaningful way with our hard-working and long-time employees and we were excited to be able to extend the opportunity, at their personal choice, to realize partial liquidity in this round.

In today's heightened environment regarding funding sources and investor quality, UiPath is fully committed to disclosing its sources of capital. Please find details in our investor disclosure blog post here.

Details on UiPath New Investors

IVP is a premier later-stage venture capital and growth equity firm in the U.S. and its current $1.5 billion fund is focused on investments in rapidly-growing media and technology companies like UiPath. Since 1980, IVP has invested in more than 400 companies, 108 of which have gone public. Its portfolio includes AppDynamics, Dropbox, GitHub, Pure Storage and Slack. General Partner Eric Liaw, who focuses on high-growth opportunities across enterprise software, Internet, mobile and fintech markets, led IVP's investment in UiPath.

Meritech Capital is a growth investment fund. General Partner Alex Kurland led Meritech's investment in UiPath and is primarily focused on enterprise software and infrastructure investments. Meritech has a strong enterprise track record and a portfolio that includes Facebook, Salesforce, NetSuite, Mulesoft, Anaplan, Coupa and Proofpoint.

Madrona Venture Group invests in seed and early-stage technology companies. Managing Director S. Somasegar has joined UiPath's Board and will actively support the expansion of UiPath's Bellevue Product Development Center, which is focused on deepening both UiPath's developer engagement and AI expertise. Somasegar has led investments at Madrona that include AnswerIQ, MightyAI and Snowflake. Somasegar's active support to develop UiPath's Bellevue operation is detailed here.

Along with IVP, Meritech and Madrona, UiPath has raised more than $400 million from tier one investors including Accel, CapitalG, Earlybird's Digital East Fund, Kleiner Perkins Caufield Byers, Credo Ventures, Seedcamp and Sequoia Capital. UiPath raised its Series A in April 2017 with 200 customers at a valuation of $140 million. It raised another $153 million in March 2018 at a valuation of $1.1 billion.

About UiPath

UiPath is leading the Automation First era - championing one robot for every person, delivering free and open training and collaboration and enabling robots to learn new skills through AI and machine learning. Led by a commitment to bring digital-era skills to more than a million people through the UiPath Academic Alliance, the company's enterprise Robotic Process Automation (RPA) platform has already automated millions of repetitive, mind-numbing tasks for business and government organizations all over the world, improving productivity, customer experience and employee job satisfaction.

Recently named the 6th happiest place to work by Comparably, UiPath has become one of the fastest growing enterprise software companies in history. The company is backed by over $400 million in funding from Accel, CapitalG, Credo Ventures, Earlybird's Digital East Fund, IVP, Kleiner Perkins, Madrona, Meritech, Seedcamp and Sequoia.
LINK: https://www.ivp.com/news/press-release/uipath-closes-series-c-funding-...
See more stories from ivp

Most recent headlines

11/12/2018

Durban FilmMart 2019 project submissions now open

-- -- Facebook Twitter Google Pinterest Project submissions for the 10th Durban FilmMart (DFM) which takes place from 19 to 22 July 2019, during the 40...

11/12/2018

Verizon Clears Capital for 5G Investment by Laying Off 10,400 Workers

Verizon said that it will offer voluntary buyouts to 10,400 workers as it prepares to make major investments in 5G network technology. Employees who volunteere...

11/12/2018

Primetime Ratings: NBC Wins With Booming SNF'

NBC won big in Sunday prime ratings, as Sunday Night Football led to a 4.3 in viewers 18-49, per the Nielsen overnights, and a 16 share. In second was NFL-fuele...

11/12/2018

Humphries Leads WYFF Past Tragedy

Often times being a leader means giving people direction. Other times, it means providing support and comfort. John Humphries That was the case for John Humph...

11/12/2018

GM Kept WJHG Focused During Disaster

Several stations have harrowing stories related to hurricanes this year, but the one at WJHG in Panama City Beach, Fla., stands out. Hurricane Michael knocked t...

11/12/2018

CBS Stations Go Direct-to-Consumer

Multiplatform Broadcaster of the Year CBS Television Stations took a big leap toward ensuring that local content retains its prime place in viewers' hearts...

11/12/2018

Connection is Key for Carolyn Mungo

By focusing on constantly connecting with news viewers in Dallas-Fort Worth, WFAA executive news director Carolyn Mungo has rebuilt the station's early morn...

11/12/2018

PBS Programs and Filmmakers Earn Five Awards at the 34th Annual IDA Awards

The International Documentary Association announced the winners of the 34th Annual IDA Documentary Awards on Saturday, December 8, 2018 at Paramount Studios, Lo...

11/12/2018

Robe Gets Symphonic for Hardwell

Robe Gets Symphonic for Hardwell posted: 11/12/2018 One of the bonuses of working with innovative and influential artists like dance music producer and me...

11/12/2018

Black Coffee co-produces first film with Kagiso Lediga

11 December, 2018 - 04:36 Not content with just dominating world music and getting involved in fashion, superstar Black Coffee is also out to conquer the mo...

11/12/2018

Cold Weather Provides Perfect Backdrop for WRAL's Coats For Children Telethon Coming This Friday

On Friday, Dec. 14, WRAL-TV will broadcast its 30th Annual Coats for the Childre...

11/12/2018

VIZ MEDIA ANNOUNCES THE BROADCAST DEBUT OF MEGALOBOX ON TOONAMI

VIZ MEDIA ANNOUNCES THE BROADCAST DEBUT OF MEGALOBOX ON TOONAMI The Futuristic Boxing Action Series MEGALOBOX Debuts On Toonami In December With New Dubbed Epi...

11/12/2018

VIZ MEDIA RELEASES THE SHOJO MANGA SERIES KAKURIYO: BED & BREAKFAST FOR SPIRITS

VIZ MEDIA RELEASES THE SHOJO MANGA SERIES KAKURIYO: BED & BREAKFAST FOR SPIRITS A College Student Must Cook Her Way Out Of Being Eaten By Spirits In New Supern...

11/12/2018

Media Industry Veteran Kevin Scott Joins Signiant Leadership Team As Company Moves Beyond File Transfer

Dec 10, 2018 | Press Releases, SaaS LEXINGTON, MA - December 10, 2018 - Signi...

11/12/2018

Andy Serkis skewers Theresa May with Brexit Gollum [video]

British actor and voice of Gollum in the Lord of the Rings films, Andy Serkis has dusted off his vocal impression of the accursed hobbit to poke fun at Theresa ...

11/12/2018

How new media platforms have become powerful across Africa

On the one hand they have been praised for their progressive characteristics. This is because they offer great organising potential, enhance political accountab...

11/12/2018

Watch: 7de Laan, latest episode Monday, 10 December [video]

If you are keen on keeping up with all the fever-pitch drama at Hillside, you have come to the right place. A warning though - there are 7de Laan spoilers ahead...

11/12/2018

Watch: Latest Skeem Saam episode for Monday, 10 December [video]

Couldn't you catch the latest episode of Skeem Saam? Don't worry, we've got you covered. On tonight's episode: Mokgadi is floored when Mary adm...

11/12/2018

Watch: Generations The Legacy latest episode Monday, 10 December [video]

On tonight's episode: Fana urges his father to end his life. Mazwi's revelation comes as a shock to Sphe. Tau resents having to work with his brother&#...

11/12/2018

Watch: Uzalo latest episode, Monday 10 December 2018 [video]

In today's episode of Uzalo: Mxolisi asks Zekhethelo to take the next step, Mrs Madlala attempts to get Sbu into bed, and Nkunzi goes on the warpath. Watch...

11/12/2018

Sunday movie: Tomb Raider what you need to know

This week's Sunday movie on M-Net 101 in the 20:05 slot is the much anticipated Tomb Raider reboot with Alicia Vikander in the lead role. Lara Croft, the ...

11/12/2018

CBS Corporation Announces Agreement to Sell CBS Television City

Dec 10 2018 HACKMAN CAPITAL PARTNERS TO PURCHASE 25-ACRE PROPERTY AND LANDMARK PRODUCTION FACILITY Transaction Proceeds to CBS of $750 Million Dec. 10, 20...

10/12/2018

Telos Alliance Showcases Audio Processing Solutions at SVG Summit

Telos Alliance Showcases Audio Processing Solutions at SVG Summit December 10, 2018 New York City, NY (December 10, 2018) The Telos Alliance TV Solutions G...

10/12/2018

Adobe Named a Top 10 Leader in Corporate Citizenship

SAN JOSE, Calif. - Dec. 10, 2018 - Adobe (Nasdaq:ADBE) today announced that for the second consecutive year, the company has been recognized by Forbes and JUST ...

10/12/2018

CNN-News18 covers Indian state elections with new hybr

Five of the biggest states in India have gone to the polls this week to elect new assemblies, setting the tone for the country's wider general election next...

10/12/2018

Harris Corporation Plans $125 Million R&D Investment in Florida

Highlights: Includes investments in electronic warfare, robotics, avionics and smallsats Supports research partnerships with Florida companies and universitie...

10/12/2018

How Robots Will Learn: Berkeley's Sergey Levine Coaxes Robots to Enjoy Their Childhood

Imagine robots straining to grip door handles. Or lifting plastic bananas and dr...

10/12/2018

AI Makes a Splash: Parisian Trio Navigates Autonomous Cargo Ships

It started as friends hacking a radio-controlled boat over a weekend for fun. What happened next is classic Silicon Valley: Three childhood buddies parlay robot...

10/12/2018

TVP to host 2019 Junior Eurovision Song Contest

TVP to host 2019 Junior Eurovision Song Contest...

10/12/2018

The Top Songs, Artists, Playlists, and Podcasts of 2018

2018 is winding down, but on Spotify, the music is playing as loudly as ever. All throughout the year, our users have streamed countless hours of their favorite...

10/12/2018

Exploring Spotify's Creative Content Partnership With Ellen DeGeneres

Spotify and Ellen DeGeneres are cut from the same cloth. We share an insatiable appetite for new music, and we're both passionate about using the power of m...

10/12/2018

Ofcom appoints new Content Board member

Ofcom appoints new Content Board member Add to Your Pages 10 December 2018 Ofcom has appointed Stephen Nuttall to its Content Board. Ofcoms Content B...

10/12/2018

Sky Television, Pixel Power & Automated Promo Versioning

Sky Television, Pixel Power & Automated Promo Versioning Sky Television talks about its evolution of Promo Versioning culminating in the deployment of Gall...

10/12/2018

I'm A CelebrityGet Me Out Of Here! final peak of 12.1 million

Published: Mon 10 Dec 2018 I'm A Celebrity Get Me Out Of Here! final peak of 12.1 million The I'm A Celebrity Get Me Out Of Here! final attracted a hu...

10/12/2018

Jessie J joins Will.I.Am, Danny Jones and Pixie Lott to take up fourth chair as The Voice Kids UK 2019 competition gets underway

Published: Mon 10 Dec 2018 - Emma Willis returns to host - Duos can enter the ...

10/12/2018

Berklee Alumni and Faculty Receive Grammy Nominations

Berklee alumni and faculty were nominated across the board for the 61st annual Grammy Awards, which will take place on Sunday, February 10, 2019. The National A...

10/12/2018

NETFLIX ACQUIRES FYRE, CHRIS SMITH'S HIGHLY ANTICIPATED DOCUMENTARY FILM ABOUT THE GREATEST PARTY THAT NEVER HAPPENED

Here is the TEASER for download. Logline: An exclusive behind the scenes look ...

10/12/2018

Kevin Costner and Woody Harrelson star in THE HIGHWAYMEN launching globally on March 29th

Kevin Costner and Woody Harrelson star in John Lee Hancock's THE HIGHWAYMEN ...

10/12/2018

A world-first: Nokia, Elisa and Efore commercially deploy a liquid-cooled base station that can reduce CO2 emissions by up to 80 percent

Press Release Liquid-cooled base station in Helsinki directs previously wasted ...

10/12/2018

Product Enhancements Deliver More Than 150% Q3 Sales Growth for Grass Valleys sQ Server

Product Enhancements Deliver More Than 150% Q3 Sales Growth for Grass Valleys sQ...

10/12/2018

Sound Devices releases v3.00 for the MixPre series

REEDSBURG, DECEMBER 10, 2018 - Sound Devices introduces the highly anticipated v3.00 firmware update for the MixPre series of audio recorders, mixers, and USB a...

10/12/2018

Industry-adopted stitching software Mistika VR to support Insta 360 Pro 2, PTGUI 11 & Autopano Giga

SGO has announced a new release of globally-endorsed Mistika VR, supporting the ...

10/12/2018

SCTEISBE PROMOTES ZENITA HENDERSON AND ROBIN FENTON TO VICE PRESIDENT, STEVE HARRIS TO EXECUTIVE DIRECTOR

Back FOR IMMEDIATE RELEASE Contact: 800-542-5040 Joe Madagan, SCTE ISBE Editor...

10/12/2018

Digital Domain picks Nevion Virtuoso for Hollywood movie production

Nevion, the award-winning provider of virtualized media production solutions, announced today that Digital Domain has selected its Virtuoso software-defined med...

10/12/2018

Telia Selects ATEME to Power its Next Generation OTT Offering in Estonia

ATEME, the emerging leader in video delivery solutions for broadcast, cable, DTH, IPTV and OTT, announced today that Telia Estonia, one of the largest telecommu...

10/12/2018

Producer Hugh Padgham To Receive Top Honour At The 2019 Music Producers Guild Awards

The Music Producers Guild will honour internationally acclaimed British producer...

10/12/2018

SMPTE Expands Virtual Classroom With Self-Study Options and a New HDR Technology and Workflows Course

SMPTE , the organization whose standards work has supported a century of advance...

10/12/2018

36th Americas Cup: circle-O to Stage the Worlds Most Spectacular Sailing Regatta

In 2021, the 36th America s Cup will set sail toward Auckland, New Zealand. Working together as circle-o Broadcast Productions, Austrian production company West...

10/12/2018

EditShare Gets High Marks at Liverpool Screen School

EditShare a technology leader in intelligent shared storage and media management solutions, today announced that The Liverpool Screen School has upgraded the ex...