Alphabet and Tencent-backed automation software producer UiPath has more than tripled its valuation in the past seven months to $35bn.

UiPath, the US-based robotic process automation (RPA) software producer backed by internet group Tencent and internet technology conglomerate Alphabet, raised $750m in series F funding yesterday at a $35bn post-money valuation.

Hedge fund Alkeon Capital Management and investment management firm Coatue co-led the round, which also featured Altimeter Capital, Dragoneer, IVP, Sequoia Capital, Tiger Global Management and funds and accounts advised by T. Rowe Price.

Founded in 2005, UiPath provides RPA technology that leverages artificial intelligence to help businesses automate…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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