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'''UiPath''' is a global software company that develops a platform for [[Robotic Process Automation]] (RPA). 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. <ref>{{cite news|last1=Lunden|first1=Ingrid|title=TechCrunch: UiPath Confirms $153 M at $1.1B Valuation|url=https://techcrunch.com/2018/03/06/uipath-confirms-153m-at-1-1b-valuation-from-accel-capitalg-and-kp-for-its-software-robots/|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=|first1=|title=UiPath Confirms $153 M at $1.1B Valuation|url=https://www.reuters.com/article/brief-uipath-raises-153-million-series-b/brief-uipath-raises-153-million-series-b-led-by-accel-idUSFWN1QO0CZ|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=|first1=|title=Silicon Angle: Robotic process automation startup UiPath raises $153M on $1.1B+ valuation|url=https://siliconangle.com/blog/2018/03/06/robotic-process-automation-startup-uipath-raises-153m-1-1b-valuation/|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=|first1=|title= Deepening Our Partnership with UiPath: Leading a $153 Million Series B |url=https://www.accel.com/interests/UiPathSeriesB|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=Mayer|first1=David|title=UiPath Gains Unicorn Status with Series B Funding; To Expand into AI |url=https://research.nelson-hall.com/blogs-webcasts/nelsonhall-blog/?avpage-views=blog&type=post&post_id=790|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=Burnett|first1=Sarah|title=Everest Research: A New RPA Unicorn is Born, Sherpas in Blue Shirts|url=https://www.everestgrp.com/2018-03-new-rpa-unicorn-born-sherpas-blue-shirts-43958.html/|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref>
'''UiPath''' is a global software company that develops a platform for [[Robotic Process Automation]] (RPA). 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. <ref>{{cite news|last1=Lunden|first1=Ingrid|title=TechCrunch: UiPath Confirms $153 M at $1.1B Valuation|url=https://techcrunch.com/2018/03/06/uipath-confirms-153m-at-1-1b-valuation-from-accel-capitalg-and-kp-for-its-software-robots/|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=|first1=|title=UiPath Confirms $153 M at $1.1B Valuation|url=https://www.reuters.com/article/brief-uipath-raises-153-million-series-b/brief-uipath-raises-153-million-series-b-led-by-accel-idUSFWN1QO0CZ|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=|first1=|title=Silicon Angle: Robotic process automation startup UiPath raises $153M on $1.1B+ valuation|url=https://siliconangle.com/blog/2018/03/06/robotic-process-automation-startup-uipath-raises-153m-1-1b-valuation/|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=|first1=|title= Deepening Our Partnership with UiPath: Leading a $153 Million Series B |url=https://www.accel.com/interests/UiPathSeriesB|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=Mayer|first1=David|title=UiPath Gains Unicorn Status with Series B Funding; To Expand into AI |url=https://research.nelson-hall.com/blogs-webcasts/nelsonhall-blog/?avpage-views=blog&type=post&post_id=790|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref><ref>{{cite news|last1=Burnett|first1=Sarah|title=Everest Research: A New RPA Unicorn is Born, Sherpas in Blue Shirts|url=https://www.everestgrp.com/2018-03-new-rpa-unicorn-born-sherpas-blue-shirts-43958.html/|accessdate=6 Mar 2018|date=6 Mar 2018}}</ref>


With robotic process automation, humans train the software robots to perform simple, repeatable jobs like opening a pdf file attached to an email, scanning the document for specific information, and then entering the information in a database. The market is growing quickly because chief information officers can show their bosses real cost savings by using bots to complete clerical tasks faster, more cheaply and with lower error rates. </ref><ref>{{cite news|last1=Rosenbush|first1=Steve|title=The Wall Street Journal Morning Download|url=hhttps://blogs.wsj.com/cio/2018/09/18/the-morning-download-fanatics-e-commerce-platform-scales-with-surging-fan-emotion/?guid=BL-CIOB-14429&mod=searchresults&page=1&pos=1&dsk=y|accessdate=18 Sep 2018|date=18 Sep 2018}}</ref>
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UiPath was founded in 2005 by Romanian entrepreneur Daniel Dines. In 2015, with the help of seed funding, UiPath started its international expansion and opened offices in London, New York, Bengaluru, Singapore, and Tokyo.<ref>{{cite web|title=Romanian tech startup UiPath raises USD 30 mln to develop intelligent software robots|url=https://www.romania-insider.com/romanian-tech-startup-uipath-raises-usd-30-mln-develop-intelligent-software-robots/|website=Romania-Insider.com|accessdate=9 March 2018}}</ref> In 2017, the company reported 590 employees and moved its headquarters to New York to be closer to its international customer base, which rose to 700 customers from 100 in 2016<ref>{{cite news|title=Romanian Firm Emerges as Leader in Automating Business Tasks|url=https://www.nytimes.com/reuters/2018/03/06/technology/06reuters-europe-venturecapital-romania.html|agency=Reuters|publisher=The New York Times|date=March 6, 2018}}</ref>.

⚫
== History ==
⚫
UiPath was founded by Daniel Dines, an engineer at Microsoft who moved back to his home country of Romania to start the company in 2005. The next 10 years were spent perfecting its computer vision, a technology that deals with how computers can be made to process, analyze, and respond to digital images.

⚫
It wasn’t until 2015 that the market for RPA began to evolve, and the company built an RPA design tool called Studio, which made everything much easier for companies to build out the automation processes and execute a workflow. In 2015, with the help of seed funding, UiPath started its international expansion and opened offices in London, New York, Bengaluru, Singapore, and Tokyo.<ref>{{cite web|title=Romanian tech startup UiPath raises USD 30 mln to develop intelligent software robots|url=https://www.romania-insider.com/romanian-tech-startup-uipath-raises-usd-30-mln-develop-intelligent-software-robots/|website=Romania-Insider.com|accessdate=9 March 2018}}</ref>

⚫
In 2017, Dines moved the company’s HQ to New York City so they could be closer to their international customer base.<ref>{{Citation|title=UiPath RPA: From Humble Romanian Beginnings to One of New York City's Most Impressive Unicorns|publisher=VentureFizz|url=https://venturefizz.com/stories/nyc/uipath-profile}}</ref> The company ended 2017 with 700 customers from 100 in 2016<ref>{{cite news|title=Romanian Firm Emerges as Leader in Automating Business Tasks|url=https://www.nytimes.com/reuters/2018/03/06/technology/06reuters-europe-venturecapital-romania.html|agency=Reuters|publisher=The New York Times|date=March 6, 2018}}</ref>.

== Timeline ==


On May 4, 2018, UiPath was named CFO tech company to watch in 2018.<ref>{{cite news|title=CFO's Tech Companies to Watch 2018: UiPath|url=http://ww2.cfo.com/applications/2018/05/cfos-tech-companies-watch-2018-uipath/|agency=CFO|publisher=An Argyle Company|date=May 4, 2018}}</ref>.
On May 4, 2018, UiPath was named CFO tech company to watch in 2018.<ref>{{cite news|title=CFO's Tech Companies to Watch 2018: UiPath|url=http://ww2.cfo.com/applications/2018/05/cfos-tech-companies-watch-2018-uipath/|agency=CFO|publisher=An Argyle Company|date=May 4, 2018}}</ref>.
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On June 30, 2018, UiPath crossed $100 Million in Annual Recurring Revenue, growing another 240% in six months.<ref name="As robotic process automation takes off, UiPath hits $100M in recurring revenue">{{Citation|title=UiPath hits $100 Million in Recurring Revenue |publisher=Media|url=https://siliconangle.com/blog/2018/07/19/robotic-process-automation-takes-off-key-player-hits-100m-recurring-revenue/}}</ref>
On June 30, 2018, UiPath crossed $100 Million in Annual Recurring Revenue, growing another 240% in six months.<ref name="As robotic process automation takes off, UiPath hits $100M in recurring revenue">{{Citation|title=UiPath hits $100 Million in Recurring Revenue |publisher=Media|url=https://siliconangle.com/blog/2018/07/19/robotic-process-automation-takes-off-key-player-hits-100m-recurring-revenue/}}</ref>


On Sept 13, 2018, UiPath was ranked #14 on the Forbes Cloud 100. It was the the highest placement of any new entrant. <ref name="The Forbes Cloud 100">{{Citation|title=The Forbes Cloud 100|publisher=web|url=https://www.forbes.com/cloud100/#639a94eb5f94}}</ref>
⚫
== History ==
⚫
UiPath was founded by Daniel Dines, an engineer at Microsoft who moved back to his home country of Romania to start the company in 2005. The next 10 years were spent perfecting its computer vision, a technology that deals with how computers can be made to process, analyze, and respond to digital images.

It wasn’t until 2015 that the market for RPA began to evolve, and the company built an RPA design tool called Studio, which made everything much easier for companies to build out the automation processes and execute a workflow.

⚫
In 2017, Dines moved the company’s HQ to New York City so they could be closer to their international customer base.{{Citation|title=UiPath RPA: From Humble Romanian Beginnings to One of New York City's Most Impressive Unicorns |publisher=VentureFizz|url=https://venturefizz.com/stories/nyc/uipath-profile}}</ref>


== References ==
== References ==

Revision as of 15:13, 18 September 2018

UiPath Inc.
Company typePrivate company
IndustryRobotic Process Automation, Artificial Intelligence
Founded2005
Headquarters
New York City, NY
,
United States
Number of locations
Increase 14 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
RevenueIncrease $100M ARR
Number of employees
Increase 1061
Websitewww.uipath.com

UiPath is a global software company that develops a platform for Robotic Process Automation (RPA). 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. [1][2][3][4][5][6]

With robotic process automation, humans train the software robots to perform simple, repeatable jobs like opening a pdf file attached to an email, scanning the document for specific information, and then entering the information in a database. The market is growing quickly because chief information officers can show their bosses real cost savings by using bots to complete clerical tasks faster, more cheaply and with lower error rates. </ref>[7]

History

UiPath was founded by Daniel Dines, an engineer at Microsoft who moved back to his home country of Romania to start the company in 2005. The next 10 years were spent perfecting its computer vision, a technology that deals with how computers can be made to process, analyze, and respond to digital images.

It wasn’t until 2015 that the market for RPA began to evolve, and the company built an RPA design tool called Studio, which made everything much easier for companies to build out the automation processes and execute a workflow. In 2015, with the help of seed funding, UiPath started its international expansion and opened offices in London, New York, Bengaluru, Singapore, and Tokyo.[8]

In 2017, Dines moved the company’s HQ to New York City so they could be closer to their international customer base.[9] The company ended 2017 with 700 customers from 100 in 2016[10].

Timeline

On May 4, 2018, UiPath was named CFO tech company to watch in 2018.[11].

On May 7, 2018, UiPath was named to Crain's Tech25 in New York City.[12]

On May 8, 2018, UiPath was listed #21 of 27 Fintech Unicorns in worldwide ranking.[13]

In April 2018, industry analyst firm Wikibon attempted to test Robotic Process Automation platforms noting: "we contacted three RPA vendors — Automation Anywhere, Blue Prism, and UiPath — to test and validate each of these propositions. Only one vendor, UIPath, responded."[14]

In June 2018, Forrester placed UiPath in the top position for its 2nd annual Forrester Wave for Robotic Process Automation. UiPath earned the top spot in current market offering, strategy and market presence. "[15]

On June 30, 2018, UiPath crossed $100 Million in Annual Recurring Revenue, growing another 240% in six months.[16]

On Sept 13, 2018, UiPath was ranked #14 on the Forbes Cloud 100. It was the the highest placement of any new entrant. [17]

References

  1. ^ Lunden, Ingrid (6 Mar 2018). "TechCrunch: UiPath Confirms $153 M at $1.1B Valuation". Retrieved 6 Mar 2018.
  2. ^ "UiPath Confirms $153 M at $1.1B Valuation". 6 Mar 2018. Retrieved 6 Mar 2018.
  3. ^ "Silicon Angle: Robotic process automation startup UiPath raises $153M on $1.1B+ valuation". 6 Mar 2018. Retrieved 6 Mar 2018.
  4. ^ "Deepening Our Partnership with UiPath: Leading a $153 Million Series B". 6 Mar 2018. Retrieved 6 Mar 2018.
  5. ^ Mayer, David (6 Mar 2018). "UiPath Gains Unicorn Status with Series B Funding; To Expand into AI". Retrieved 6 Mar 2018.
  6. ^ Burnett, Sarah (6 Mar 2018). "Everest Research: A New RPA Unicorn is Born, Sherpas in Blue Shirts". Retrieved 6 Mar 2018.
  7. ^ Rosenbush, Steve (18 Sep 2018). [hhttps://blogs.wsj.com/cio/2018/09/18/the-morning-download-fanatics-e-commerce-platform-scales-with-surging-fan-emotion/?guid=BL-CIOB-14429&mod=searchresults&page=1&pos=1&dsk=y "The Wall Street Journal Morning Download"]. Retrieved 18 Sep 2018.
  8. ^ "Romanian tech startup UiPath raises USD 30 mln to develop intelligent software robots". Romania-Insider.com. Retrieved 9 March 2018.
  9. ^ UiPath RPA: From Humble Romanian Beginnings to One of New York City's Most Impressive Unicorns, VentureFizz
  10. ^ "Romanian Firm Emerges as Leader in Automating Business Tasks". The New York Times. Reuters. March 6, 2018.
  11. ^ "CFO's Tech Companies to Watch 2018: UiPath". An Argyle Company. CFO. May 4, 2018.
  12. ^ "Crain's Top 25". Crain. Crain. May 7, 2018.
  13. ^ "RANKED: The 27 fintech unicorns from around the world". Business Insider. Business Insider. May 8, 2018.
  14. ^ Assessing RPA Time-to-Value with UiPath, blog
  15. ^ The Forrester Wave(tm): Robotic Process Automation, Q2 2018, blog
  16. ^ UiPath hits $100 Million in Recurring Revenue, Media
  17. ^ The Forbes Cloud 100, web
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