UiPath

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UiPath Inc.

Type Public

Traded as NYSE: PATH

Industry Robotic Process Automation, Artificial

Intelligence, Automation

Founded 2005 in Bucharest, Romania

 Daniel Dines
Founders
 Marius Tîrcă

Headquarters New York City, NY

,
United States

Number of 25 Countries
locations

Area served Worldwide

Key people  Daniel Dines (CEO)

 Marius Tîrcă (CTO)

Products  AI Center
 Action Center
 Apps
 Assistant
 Automation Hub
 Automation Platform
 Document Understanding
  Insights
 Orchestrator
 Process Mining
 StudioX
 Test Suite

Brands UiPath, UiPath Academy, UiPath

Community, UiPath Connect

Revenue $607.6 Million[1][2]

Number of 3,000
employees

Website uipath.com

UiPath is a global software company for robotic process automation (RPA)

founded in Romania by Daniel Dines and Marius Tîrcă and headquartered in New
York City. The company's software monitors user activity to automate repetitive
front and back office tasks, including those performed using other business
software such as customer relationship management or enterprise resource
planning (ERP) software.
In December 2020, the company filed confidentially for an initial public offering, and
became public on April 21, 2021.

Contents

 1History
 2Products
 3Funding
 4References
 5External links

History[edit]
UiPath was founded in 2005 in Bucharest, Romania as DeskOver,
by Romanian entrepreneurs Daniel Dines and Marius Tîrcă.[3]
In 2013, the company released the first UiPath Desktop Automation product line,
which gave companies RPA tools to automate manual and repetitive back office
tasks.[3]
In 2015, the company changed its name to UiPath.[3] Also in 2015, after receiving
seed funding from Accel Partners and earlier investors, the company opened
offices in London, New York City, Bangalore, Paris, Singapore, Washington, D.C.,
and Tokyo.[4][3]
By April 2016, the company had released its Front Office and Back Office Server
suites, and also released its Studio Community Edition. Within six months, the
company had 10,000 active members, and more than 250 enterprise customers. [3]
In 2017, UiPath reported 590 employees and moved its headquarters to New York
to be closer to its international customer base.[5]
In June 2019 research firm Gartner announced that from 2017 to 2018 UiPath
moved from #5 to #1 in RPA market share.[6] In September, UiPath was ranked #3
on the Forbes Cloud 100.[7] 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."[8] In October, UiPath announced the acquisition of Ukrainian
process documentation company StepShot and Dutch process mining company
ProcessGold.[9] Also in October, the company announced UiPath Explorer, a new
product using technology from the acquired companies; a robot communication
tool called UiPath Apps; a low code robot programming tool called UiPath StudioX;
an embedded analytics tool called UiPath Insights; and UiPath Connect, a tool that
allowed every employee to find new processes to automate.[9][10] In November, the
company reported it had 5,000 customers worldwide, and a developer community
of more than 500,000 people.[11] In November, the company was ranked first in the
Deloitte Technology Fast 500.[12]
In April 2020, UiPath was named the top tech company and #2 overall in the
Financial Times FT1000 ranking of Americas' fastest growing companies
2020.[13][14] In June, UiPath was named to the CNBC 2020 Disruptor 50 ranking. [15] In
September, UiPath was ranked #3 on the Forbes Cloud 100 list for the second
consecutive year.[16] On December 17, Bloomberg reported that UiPath filed
confidentially for an initial public offering (IPO).[17]

Products[edit]
UiPath develops software to automate repetitive digital tasks normally performed
by people. The technology combines emulating how humans read computer
screens (AI Computer Vision) with APIs, and gives users access to prebuilt
automation components that can be combined to automate routine processes.[11] Its
earlier products simplified tasks performed using other business software such as
CRM or ERP systems, in internal and back-office areas like accounting, human
resources paperwork, and claims processing.[18][19] Newer applications for the
company's software include coordinating with artificial intelligence systems to
simplify repetitive front office tasks including customer management.[19]
UiPath's main product is the UiPath Automation Platform.[20] The platform combines
a family of low-code visual integrated development environment (IDE) products
called Studio for process creation, with client-side agents called Robots that
execute those processes. The processes are deployed, monitored and managed
remotely with a central management tool called Orchestrator.[21]
Additional available software includes:
 UIPath AI Center (previously AI Fabric) - orchestrates and inserts AI into
business processes.[18][citation needed]
 UiPath Action Center (previously UiPath Apps) - a communication tool for
instances where robots need to connect with humans for direction, described
by the company as “human in the loop.”[10][citation needed]
 UiPath Assistant - a launchpad for automations that a company provides to its
computer workers. It sits on the computer desktop and gives people easy
access to selected automations that help them with their day-to-day tasks.[22]
 UiPath Automation Hub (previously UiPath Connect Enterprise) - a tool allows
every employee at an organization to help find, suggest and track new
processes to automate.[10][23]
 UiPath Document Understanding - software that extracts, interprets and
processes data from PDFs, images, handwriting and other communication
media.[24]
 UiPath Insights - a modular data dashboard that provides analytics for UiPath's
automated processes.[10]
 UiPath Process Mining (previously ProcessGold) - a tool that uncovers new
automation opportunities by analyzing application logs.[22]
 UiPath StudioX - a platform with simplified coding that allows workers to build
their own robots to simplify their own work.[10]
 UiPath Test Suite - automates and centralizes testing to ensure the quality of
every automation and application before they go live.[25]
UiPath's software products are available as native software or using the Software
as a Service (SaaS) model.[9][21]
UiPath also hosts the UiPath Academy, to provide job training and certification in
the field of Robotic Process Automation.[26]

Funding[edit]
UIPath Funding in millions of $ USD:
10,000
20,000
30,000
40,000
2015-08
2017-04
2018-03
2018-09
2019-04
2020-07
2021-02

 Funding
 Valuation
 Funding
When Valuation Who and notes
Raised

UiPath closed an initial seed funding round led

August US$1.6
. by the Earlybird Venture Capital, with Credo
2015 million
Ventures and Seedcamp as backers.[3]

One of the biggest Series A rounds of funding in

$30 million Europe, led by Accel. Previous investors
April 2017 .
investment Earlybird Venture Capital, Credo Ventures and
Seedcamp also joined.[3]

$153
March 6, from Accel, CapitalG, and Kleiner Perkins
million $1.1 billion
2018 Caufield & Byers.[27][28]
investment

September $225 $3 billion Funding round led by CapitalG and Sequoia

18, 2018 million valuation Capital.[29]

Series D round of funding led by hedge

$7 billion
fund Coatue Management, with participation
(claimed by the
April 30, $568 from Alphabet’s CapitalG, Sequoia, Accel,
company after
2019 million Madrona Venture Group, IVP, Dragoneer,
the funding
Wellington, Sands Capital, and funds advised by
round)
T. Rowe Price & Associates.[19]

July 13, $225

$10.2 Billion.[30] .
2020 Million

UiPath filed a confidential draft registration

December statement with the United States Security and
. .
17, 2020 Exchange Commission for an initial public
offering.[31][32][33][34]

$35 billion
February $750
(post-money Series F funding.[20]
1st, 2021 million
valuation)
References[edit]
1. ^ "Robotics firm UiPath Files for IPO after $35 Billion valuation". thestreet.com. March 26,
2021. Retrieved March 26, 2021.
2. ^ "TechCrunch: A first look at UiPath's IPO filing". techcrunch.com. March 26, 2021.
Retrieved March 26, 2021.
3. ^ Jump up to:a b c d e f g "The story of UiPath – How did it become Romania's first
unicorn?". Business Review. September 4, 2018. Retrieved March 3, 2021.
4. ^ "Romanian tech startup UiPath raises USD 30 mln to develop intelligent software
robots". Romania-Insider.com. Retrieved March 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. ^ "Gartner Says Worldwide Robotic Process Automation Software Market Grew 63% in
2018". www.gartner.com. June 24, 2019. Retrieved March 3, 2021.
7. ^ "Forbes Cloud 100". www.forbes.com. Retrieved September 11, 2019.
8. ^ "From Communism To Coding: How Daniel Dines Of $7 Billion UiPath Became The First
Bot Billionaire". www.forbes.com. Retrieved September 11, 2019.
9. ^ Jump up to:a b c "UiPath acquires ProcessGold and StepShot to help businesses identify
RPA opportunities". VentureBeat. October 15, 2019. Retrieved March 3, 2021.
10. ^ Jump up to:a b c d e "UiPath announces new tools and acquisitions to automate more
business processes". Silicon Angle. October 15, 2019. Retrieved March 3, 2021.
11. ^ Jump up to:a b "PwC Strategy+Business: Automation Made Easy". Strategy + Business.
November 20, 2019. Retrieved March 3, 2021.
12. ^ "2019 Technology Fast 500 winners". www.deloitte.com. Retrieved November 6,2019.
13. ^ "2020 FT1000 winners". www.ft.com. Retrieved April 6, 2020.
14. ^ Kelly, Maxine (April 6, 2020). "FT ranking: the Americas' fastest-growing
companies". www.ft.com. Retrieved April 17, 2020.
15. ^ "2020 CNBC Disruptor 50". www.cnbc.com. Retrieved June 13, 2020.
16. ^ ""Forbes Cloud 100 2020"". Forbes.
17. ^ ""UiPath Says It Filed Confidentially for IPO, Could Be Valued at More Than $20
Billion"". Bloomberg.
18. ^ Jump up to:a b "UiPath: RPA and AI will be commoditized productivity tools within 5
years". Venturebeat. June 22, 2019. Retrieved March 3, 2021.
19. ^ Jump up to:a b c "UiPath nabs $568M at a $7B valuation to bring robotic process
automation to the front office". TechCrunch. April 30, 2019. Retrieved March 2, 2021.
20. ^ Jump up to:a b "Robotic process automation platform UiPath raises $750M at $35B
valuation". Techcrunch. February 1, 2021. Retrieved March 3, 2021.
21. ^ Jump up to:a b "Review: UiPath aces robotic process automation". Infoworld. May 6, 2019.
Retrieved March 3, 2021.
22. ^ Jump up to:a b "UiPath robots 'calmly hyper' over hyperautomation". Computer Weekly.
May 13, 2020. Retrieved March 2, 2021.
23. ^ "UiPath Extends RPA Market Leadership, Readies for Hyperautomation". Business
Review. February 21, 2021. Retrieved March 3, 2021.
24. ^ "Deloitte and UiPath partner to deliver Intelligent Document Processing". Information
Age. May 4, 2020. Retrieved March 3, 2021.
25. ^ "UiPath Now Certified for SAP Solution Manager Test Automation". AiThority. August 5,
2020. Retrieved March 3, 2021.
26. ^ Lunden, Ingrid (April 3, 2020). "UiPath extends its online RPA academy and
certification". CXO Insight Middle East. Retrieved March 3, 2021.
27. ^ Lunden, Ingrid (March 6, 2018). "UiPath Confirms $153 M at $1.1B
Valuation". TechCrunch. Retrieved March 6, 2018.
28. ^ "UiPath Confirms $153 M at $1.1B Valuation". Reuters. March 6, 2018. Retrieved March
6, 2018.
29. ^ "With India Focus, Global Robotics Company UiPath Raises $225 Mn". Inc42 Media.
September 18, 2018.
30. ^ ""UiPath reels in another $225M as valuation soars to $10.2B". TechCrunch.
31. ^ ""UiPath files confidential IPO". TechCrunch.
32. ^ "Software maker UiPath says it has confidentially filed for IPO". Bloomberg.
33. ^ "UiPath files for IPO, could become one of New York City's largest tech
companies". CNBC.
34. ^ "UiPath: Get ready for another big software IPO". Barrons.