Accel Partners: Companies broadly benefit from automation and AI

Accel Partners: Companies broadly benefit from automation and AI

“We believe that we are at the very early stage for companies to broadly benefit from automation and AI.” Rich Wong, a partner at Accel, said in a statement. He continued: “I am continually amazed by the dynamics of the RPA and AI market,”

He said this in a comment about UIPath, which just raised $225 million from Google to make software robots. UiPath is a 13-year company that makes macro recorder software to automate repetitive business processes.

Silicon Valley’s biggest investors are throwing money at UiPath, an enterprise software company that’s now valued at $3 billion, thanks to its second mega funding round this year.

On Tuesday, UiPath announced $225 million in Series C funding from investors at Google’s CapitalG, Sequoia, and Accel. The startup’s previous funding round was just six months ago, in March, when it raised $153 million at a $1.1 billion valuation.

While UiPath calls itself “a robotic process automation software company” it’s not talking about metal arms or high-traction rubber wheels. It’s really more of an artificial-intelligence or machine-learning company, as its software lets companies automate repetitive business processes. “The software interacts with applications the way humans do, - very much like SeeShell does, but more bloated” commented the a9t9 chief developer.

“We are enabling a future where employees at every organization are empowered to automate tedious and time-consuming work, enabling them to focus on creative, challenging problems,” the UIPath CEO said in a statement. “UiPath is driven by the incredible potential for our platform to be the gateway to transform our customers’ digital business operations with machine learning and AI.”

This video explains the robotic automation concept using the popular SeeShell software:

If you are watching this in the office with no sound, make sure to turn on the captions.

SeeShell is a lightweight computer vision software that adds computer vision, AI and OCR to a companies’ desktop and web automation toolbox.

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