AirSlate, a provider of no-code business process automation tools, announced June 16 that it has received $51.5 million in a round of funding. This values AirSlate at more than $1 billion.
Venture capital firm G Squared led the capital round with participation from UiPath. This makes AirSlate the first portfolio company for UiPath’s newly formed, previously unannounced arm, UiPath Ventures.
“We see an opportunity to share our experience and passion for fostering the next generation of innovative technology solutions harnessing the power of automation, AI, and machine learning … We believe there is tremendous potential in deepening and broadening the automation layer of the IT stack to help more companies digitize and automate their operations,” Vijay Khanna, chief corporate development officer at UiPath, said in an emailed statement. “The missions of UiPath and airSlate to enable companies to grow faster and enhance creativity and productivity for millions of workers are closely aligned, which makes AirSlate a natural fit for our investment from UiPath Ventures.”
To date, AirSlate has raised $185.3 million in financing, a portion of which is debt.
Find more information on AirSlate’s announcement here.