New York companies are seeing a wave of new investments

Photo: UiPath/Facebook
By Hoodline - Published on May 03, 2019.

New York-based data center automation company UiPath has secured $568 million in Series D funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced April 30 and led by Coatue Management.

According to its Crunchbase profile, "UiPath designs and develops robotic process automation software. The platform offers foolproof development tool, automation of intricate processes, enhanced control, cloud and on-premise deployment, robust governance and multiple robots on a single virtual machine. UiPath also provides UiPath Studio that models automation visually, UiPath Orchestrator that manages critical enterprise duties and UiPath Robot that executes processes."

The 14-year-old company has raised three previous funding rounds, including a $265 million Series C round in 2018.

The round brings total funding raised by New York companies in science and engineering over the past month to $1 billion, an increase of $970 million from the month before. The local science and engineering industry has seen 201 funding rounds over the past year, yielding a total of $3.3 billion in venture funding.

In other local funding news, training company Credly announced a $11 million Series A funding round on April 24, led by Zoma Capital.

According to Crunchbase, "Credly is helping the world speak a common language about people’s knowledge, skills and abilities. Thousands of employers, training organizations, associations, certification programs and workforce development initiatives use Credly to help individuals translate their learning experiences into professional opportunities using trusted, portable, digital credentials. Credly empowers organizations to attract, engage, develop and retain talent with enterprise-class tools that generate data-driven insights to address skills gaps and highlight opportunities through an unmatched global network of credential issuers."

Founded in 2012, the company has raised two previous rounds, including a $4.6 million round in 2017.

Meanwhile, genetics and innovation management company Gencove raised $330,234 in grant funding, announced on April 26. The round was financed by National Institutes of Health.

From the company's Crunchbase profile, "We make genomics affordable and accessible through a cost-effective, low-coverage, whole genome sequencing technology."

Gencove last raised $3 million in Series A funding earlier this year.

This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.

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