UiPath

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

UiPath Inc.
Private company
IndustryRobotic Process Automation, Artificial Intelligence
Founded2005
Headquarters,
United States
Number of locations
Increase 32 Offices; 23 Countries
Key people
Daniel Dines (Co-founder and CEO), Marius Tîrcă (CTO), Bobby Patrick (CMO), Param Kahlon (CPO), Craig Bumpus (CRO)
ProductsUiPath, UiPath Studio, UiPath Orchestrator, UiPath Robots
BrandsUiPath, UiPath Academy, UiPath Community, UiPath Go!, UiPath Connect
RevenueIncrease US$200M ARR
Number of employees
Increase 3,000
Websiteuipath.com

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

History[edit]

UiPath was founded in 2005 by the Romanian entrepreneurs, Daniel Dines and Marius Tirca. The company started from Bucharest, Romania and later opened offices in London, New York, Bengaluru, Paris, Singapore, Tokyo and Washington DC.[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 September 2019, UiPath was ranked #3 on the Forbes Cloud 100.[6] 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."[7]

Funding[edit]

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 $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.[8][9]

On September 18, 2018, UiPath raised $225 million in the funding round led by CapitalG and Sequoia Capital at a $3 billion valuation.[10]

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.[11]

References[edit]

  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. ^ a b c "The story of UiPath – How did it become Romania's first unicorn?". business-review.eu. April 9, 2018.
  5. ^ a b "Romanian Firm Emerges as Leader in Automating Business Tasks". Reuters. March 6, 2018. Archived from the original on March 6, 2018. Cite uses deprecated parameter |dead-url= (help)
  6. ^ "Forbes Cloud 100". www.forbes.com. Retrieved September 11, 2019.
  7. ^ "From Communism To Coding: How Daniel Dines Of $7 Billion UiPath Became The First Bot Billionaire". www.forbes.com. Retrieved September 11, 2019.
  8. ^ Lunden, Ingrid (March 6, 2018). "TechCrunch: UiPath Confirms $153 M at $1.1B Valuation". Retrieved March 6, 2018.
  9. ^ "UiPath Confirms $153 M at $1.1B Valuation". March 6, 2018. Retrieved March 6, 2018.
  10. ^ "With India Focus, Global Robotics Company UiPath Raises $225 Mn". Inc42 Media. September 18, 2018.
  11. ^ "UiPath nabs $568M at a $7B valuation to bring robotic process automation to the front office". TechCrunch.

External links[edit]