Artificial Intelligence Continues Its Fundraising Tear In 2018

In late May, Chinese facial recognition technology developer SenseTime Group announced it had raised $620 million in a second round of funding. The raise valued the company over $4.5 billion, making it the world's most valuable AI unicorn. SenseTime reportedly became profitable last year. Meanwhile, UiPath--an enterprise robotic process automation (RPA) software company--brought in $153 million in a massive Series B round led by previous investor Accel. UiPath said the round pushed it into unicorn status and followed a record year of growth.