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Armed with a fresh round of Series B funding, Robotics Process Automation (RPA) company UiPath is expected to add 100 engineers.
President & CEO (India & APAC) of UiPath Raghunath Subramanian told BusinessLine that with the fresh round of $153 million in funding, the company’s product roadmap will get accelerated.
“This will be particularly around areas that integrate machine learning (ML) and Artificial Intelligence (AI) algorithms within customers’ digital business operations,” added Subramanian.
Overseas expansion
Further, UiPath will also continue expansion of its global operations with new offices in Amsterdam, Houston, Munich, Paris, Seoul and Washington this quarter, along with its India centre. UiPath is considered to be one of the unicorn companies and is valued at $1.1 billion.
With the additional headcount, UiPath will employ around 200 trained personnel in RPA. A large part of UiPath’s push into India comes in the backdrop of software talent availability in India, which helps the company service enterprises all over the world. Technologies such as RPA has been gaining traction as a way of automating repetitive, tedious tasks. Financial institutions, retailers, BPOs and others have started using RPA.
“We have around 700 clients and that is a seven-fold growth compared to our client base earlier last year,” said Subramanian.
Previous investor Accel led the latest round of funding, with new investors CapitalG and Kleiner Perkins Caufield & Byers contributing. UiPath seed investors Earlybird’s Digital East Fund, Credo Ventures and Seedcamp also participated significantly in the round.
The company now employs more than 590 professionals across 14 countries and counts Indian software majors such as TCS, Mphasis and others who use UiPath’s software to cater to their client needs.
Earlier this year, UiPath said that an estimated two lakh Robotic Process Automation-reated jobs will be created in in India by 2021 as companies begin to embrace automation.
According to research firm Gartner, by 2020, 30 per cent of all B2B companies will employ AI to augment at least one of their primary sales processes.
Industry watchers opine that RPA opens up new pathways for job opportunities.
This comes at a time when companies are resorting to job losses in the backdrop of skills mismatch and the workforce’s inability to match up to the changed market needs.
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