UiPath builds an Automation Platform that enables companies to design, run and manage automations across departments, using AI and machine learning to automate repetitive, rule-based work. The platform targets enterprise productivity, customer experience and employee satisfaction by removing manual tasks. CNBC reported annual revenue of about $360 million and over 6,300 customers, including Amazon, Bank of America and Verizon. The company has shown rapid historical growth—earlier reporting cited ARR growth from $8 million in 2017 to over $200 million and 400,000 users in 200 countries—and has scaled headcount substantially. UiPath was founded in 2005 and is pursuing a public listing, having submitted a draft registration to the SEC in December. Competitors named in coverage include Microsoft Power Automate, Blue Prism, Automation Anywhere and SAP. UiPath develops RPA software that lets companies automate manual legacy processes without replacing existing systems. The company has grown rapidly since pivoting to RPA in 2015 and reports 7,000 customers. Recurring revenue has expanded from $100 million to $400 million over the past 24 months. UiPath raised additional capital to capture market share, pursue strategic acquisitions, and bolster cash during economic uncertainty. The company previously laid off about 400 employees during a strategic reset after rapid expansion. Leadership has signaled an openness to going public and said it is preparing for an IPO when market conditions are right. UiPath develops robotic process automation (RPA) software that uses artificial intelligence and sophisticated scripts to run attended and unattended 'software robots' for repetitive enterprise tasks. The company was originally founded in Romania and has grown rapidly, expanding annual run rate to more than $200 million and a customer base of over 400,000 people. UiPath says it is “close to profitability” and plans to remain private while growing, with an IPO targeted in the medium term (12–24 months). Management plans to use recent funding to move RPA from back-office use cases into front-office and customer-facing areas such as customer support and sales. UiPath also intends to advance into AI and cloud offerings, with a new AI product due in the second half of the year built around a drag-and-drop architecture. The product is planned to support both attended (assistant) and unattended (autonomous) bots as the company pursues intelligent automation. UiPath builds RPA software that uses AI-based "software robots" to automate repetitive and mundane back-office tasks, enabling employees to focus on higher-value work. The company promotes a "one robot for every person" mantra as it expands enterprise automation. UiPath reported an annual run rate of $150 million (up from $100 million two months earlier) and serves roughly 2,100 customers, including the US Army, Defense Logistics Agency, GSA, IRS, NASA, Navy and the Department of Veterans Affairs. Management says demand is very strong and the company is being approached frequently for additional funding. CEO and co-founder Daniel Dines has emphasized selecting investors aligned with UiPath's culture and extending partial liquidity opportunities to long-time employees. Competitive pressure in the RPA market is increasing as rivals also raise funds and pursue acquisitions. UiPath develops AI-driven "software robots" that automate mundane enterprise tasks across back-office IT systems and, increasingly, front-office customer-care workflows. The company reports over 700 paying enterprise customers, a seven-fold increase year-over-year, and annual recurring revenues that have grown eightfold over the same period. UiPath is cash-flow positive and is using additional funding to scale its startup infrastructure, expand customer-success and account-management teams, and seize the RPA market opportunity. Its product roadmap emphasizes AI and cognitive developments, with a two-month release cycle the company says it will accelerate. UiPath recently released its first solutions for customer care agents and plans further front-office offerings. The company says it will announce a large U.S. implementation in the near term.

Total raised

$2.0B

Funding rounds

6

Latest round

Series F

Latest activity

Feb 2021