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Report: UiPath raising over $400M in series D round from venture capital firms

Robotics process automation platform UiPath Inc. is raising more than $400 million in a series D funding round from venture capital investors, reaching a valuation of more than $7 billion, TechCrunch reported, citing unnamed sources.

UiPath raised a total of $409 million in three earlier funding rounds, including a $225 million series C round in 2018 that valued the business at $3 billion, the report said, citing PitchBook.

CapitalG and Sequoia Capital, who co-led the series C round, and Accel, Credo Ventures and Earlybird Venture Capital GmbH & Co. KG, among others, are key backers of the company.

UiPath develops automated software workflows meant to automate everyday tasks within business operations, the report added.