Today UIPath announced its new round of funding taking the company to a post-money valuation of $1.1b (The news had leaked on Friday and Techcrunch had already run the story). I actually dislike the unicorn fetish and find the obsession with it meaningless, but I could not resist the headline of this blog post.
What is great about the story at UIPath is that it’s a validation of a key thesis of ours at Bek Ventures:
Innovation is not under the monopoly of Silicon Valley and bright engineers from underserved venture capital markets will continue to build great companies. There is an attractive VC opportunity in focusing on regions with a strong tech talent base.
Congratulations to everyone involved in this fantastic journey.