UiPath

UiPath is a global software company that develops a platform for robotic process automation (RPA or RPAAI).[1][2]

UiPath Inc.
TypePrivate company
IndustryRobotic Process Automation, Artificial Intelligence, Automation
Founded2005 in Bucharest, Romania
Founders
  • Daniel Dines (CEO)
  • Marius Tîrcă (CTO)
Headquarters
New York City, NY
,
United States
Number of locations
25 Countries
Area served
Worldwide
Key people
  • Ashim Gupta (CFO)
  • Thomas Hanson (CRO)
  • Param Kahlon (CPO)
  • Ted Kummert (EVP)
  • Bobby Patrick (CMO)
Products
  • Automation Cloud
  • Studio
  • Orchestrator
  • Robots
  • Process Mining
  • Test Suite
  • Apps
  • Insights
BrandsUiPath, UiPath Academy, UiPath Community, UiPath Connect
Number of employees
2,800
Websiteuipath.com

History

UiPath was founded in 2005 by the Romanian entrepreneurs, Daniel Dines and Marius Tîrcă. The company started from Bucharest, Romania and later opened offices in London, New York City, Bangalore, Paris, Singapore, Washington, D.C., and Tokyo.[3][4] In 2017, the company reported 590 employees and moved its headquarters to New York to be closer to its international customer base.[5] In 2016, the company had 100 customers which rose to 700 customers in 2017.[5] In 2019, UiPath crossed 5,000 customers worldwide.[6]

According to Gartner market share data, UiPath advanced from #5 in share in 2017 to #1 in share in 2018.[7]

In September 2019, UiPath was ranked #3 on the Forbes Cloud 100.[8] The company was the featured cover story of the September 30, 2019 Forbes print edition with UiPath CEO Daniel Dines called "Boss of the Bots."[9]

UiPath was ranked first in the Deloitte Technology Fast 500 on November 6, 2019.[10]

In April 2020, UiPath was named the top tech company and #2 overall in the Financial Times 1000, FT1000 ranking: Americas' fastest growing companies 2020.[11][12]

In June 2020, UiPath was named to the CNBC Disruptor 50 2020.[13]

On September 16, 2020, UiPath was ranked #3 on Forbes Cloud 100 2020 for the second consecutive year.[14]

On December 17, 2020, Bloomberg reported that UiPath filed confidentially for an initial public offering (IPO)[15]

Funding

In August 2015, UiPath closed an initial seed funding round of US$1.6 million led by the Earlybird Venture Capital, with Credo Ventures and Seedcamp as backers.[4]

In April 2017, UiPath received a $30 million investment in one of the biggest Series A rounds of funding in Europe, led by Accel. Previous investors Earlybird Venture Capital, Credo Ventures and Seedcamp also joined.[4]

On March 6, 2018, UiPath received a $153 million investment from Accel, CapitalG, and Kleiner Perkins Caufield & Byers, valuing the company at $1.1 billion.[16][17]

On September 18, 2018, UiPath raised $225 million in the funding round led by CapitalG and Sequoia Capital at a $3 billion valuation.[1]

On April 30, 2019, UiPath raised $568 million in a Series D round of funding led by hedge fund Coatue Management, with participation from Alphabet’s CapitalG, Sequoia, Accel, Madrona Venture Group, IVP, Dragoneer, Wellington, Sands Capital, and funds advised by T. Rowe Price & Associates. The company also now claims a valuation of $7 billion.[18]

On July 13, 2020, UiPath raised $225 Million at a valuation of $10.2 Billion.[19]

On December 17, 2020, UiPath filed a confidential draft registration statement with the United States Security and Exchange Commission for an initial public offering.[20][21][22][23]

On February 1st, 2021, UiPath raised $750 million in Series F funding at a post-money valuation of $35 billion. [24]

References
  1. "With India Focus, Global Robotics Company UiPath Raises $225 Mn". Inc42 Media. September 18, 2018.
  2. "RPAAI". RPAAI. August 18, 2019.
  3. "Romanian tech startup UiPath raises USD 30 mln to develop intelligent software robots". Romania-Insider.com. Retrieved March 9, 2018.
  4. "The story of UiPath – How did it become Romania's first unicorn?". business-review.eu. April 9, 2018.
  5. "Romanian Firm Emerges as Leader in Automating Business Tasks". Reuters. March 6, 2018. Archived from the original on March 6, 2018.
  6. "PwC Strategy+Business: Automation Made Easy". Strategy + Business. Retrieved November 20, 2019.
  7. "Gartner Says Worldwide Robotic Process Automation Software Market Grew 63% in 2018". www.gartner.com. Retrieved June 24, 2019.
  8. "Forbes Cloud 100". www.forbes.com. Retrieved September 11, 2019.
  9. "From Communism To Coding: How Daniel Dines Of $7 Billion UiPath Became The First Bot Billionaire". www.forbes.com. Retrieved September 11, 2019.
  10. "2019 Technology Fast 500 winners". www.deloitte.com. Retrieved November 6, 2019.
  11. "2020 FT1000 winners". www.ft.com. Retrieved April 6, 2020.
  12. Kelly, Maxine (April 6, 2020). "FT ranking: the Americas' fastest-growing companies". www.ft.com. Retrieved April 17, 2020.
  13. "2020 CNBC Disruptor 50". www.cnbc.com. Retrieved June 13, 2020.
  14. ""Forbes Cloud 100 2020"". Forbes.
  15. ""UiPath Says It Filed Confidentially for IPO, Could Be Valued at More Than $20 Billion"". Bloomberg.
  16. Lunden, Ingrid (March 6, 2018). "TechCrunch: UiPath Confirms $153 M at $1.1B Valuation". Retrieved March 6, 2018.
  17. "UiPath Confirms $153 M at $1.1B Valuation". March 6, 2018. Retrieved March 6, 2018.
  18. "UiPath nabs $568M at a $7B valuation to bring robotic process automation to the front office". TechCrunch.
  19. ""UiPath reels in another $225M as valuation soars to $10.2B". TechCrunch.
  20. ""UiPath files confidential IPO". TechCrunch.
  21. "Software maker UiPath says it has confidentially filed for IPO". Bloomberg.
  22. "UiPath files for IPO, could become one of New York City's largest tech companies". CNBC.
  23. "UiPath: Get ready for another big software IPO". Barrons.
  24. https://techcrunch.com/2021/02/01/robotic-process-automation-platform-uipath-raises-750m-at-35b-valuation/
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