Fenwick & West represented Accel, a leading early and growth-stage venture capital firm, in leading a $153 million Series B investment in UiPath, a leading enterprise Robotic Process Automation (RPA) software company. Existing seed investors Earlybird’s Digital East Fund, Credo Ventures and Seedcamp participated in the round, along with new investors CapitalG (formerly Google Capital) and Kleiner Perkins Caufield & Byers. Fenwick was also counsel to CapitalG in the transaction.
The new financing will be used to accelerate the company’s product roadmap, particularly in the areas of innovations that integrate machine learning (ML) and artificial intelligence (AI) algorithms within customers’ digital business operations. UiPath will also continue expansion of its global operations with new offices in Amsterdam, Houston, Munich, Paris, Seoul and Washington D.C. this quarter. More information about UiPath’s $153 million Series B financing can be found at Accel’s announcement and UiPath’s press release.