The company, valued at $3 billion, which also works with IT and business process management (BPM) firms in the country, is looking at raising its headcount to 1,200 by the end of 2019 with a mix of technology and business hires.
The company has raised over $400 million from tier-I investors including Accel, CapitalG, Earlybird’s Digital East Fund, Kleiner Perkins Caufield Byers, Credo Ventures, Seedcamp and now Sequoia.
BENGALURU: Automation software company UiPath is focusing on captives to grow its market in India and has begun boosting its hiring to tap into demand.
The company, valued at $3 billion, which also works with IT and business process management (BPM) firms in the country, is looking at raising its headcount to 1,200 by the end of 2019 with a mix of technology and business hires. “We are uniformly ramping up our team size for global captives and IT/BPM sector,” said Rajeev Mittal, managing director for India sales at UiPath. “The team involves pre-sales consultants, sales, solution architects and customer success functions besides program management and technical support.”
The company’s captive business in India is structured in teams that specialise in different geographies such as North American captives, European captives and Asia-Pacific captives.
Currently, captives and IT-BPM contribute a dominant share to the firm’s India revenue. UiPath also wants to grow its domestic business. “With the rise of our domestic India business from Indian enterprises, we would see a change in percentage contribution, but in absolute terms, there would be growth across all segments,” said Manish Bharti, senior vice-president - global accounts at UiPath.
In September, the company said it had raised $225 million from Capital G, Sequoia and Accel. The company plans to expand its presence to eight cities including Chennai, Pune, Hyderabad and Kolkata, while increasing headcount in Bengaluru, Mumbai and Gurugram.
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The company has raised over $400 million from tier-I investors including Accel, CapitalG, Earlybird’s Digital East Fund, Kleiner Perkins Caufield Byers, Credo Ventures, Seedcamp and now Sequoia. 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. UiPath competes with a slew of RPA providers, the largest of which are London-listed BluePrism and still private Automation-Anywhere.
