UiPath

{{short description|Romanian-American developer of robotic process automation software}}

{{Infobox company

| logo = File:UiPath_2019_Corporate_Logo.png

| name = UiPath Inc.

| type = Public

| traded_as = {{ubl|{{NYSE|PATH}} (Class A)|Russell 1000 component}}

| industry = Software

| products = {{ubl|RPA tools|Automation tools}}

| area_served = Worldwide

| founded = {{Start date and age|2005}} in Bucharest, Romania

| founders = {{Unbulleted list|Daniel Dines|Marius Tîrcă}}

| key_people = {{Unbulleted list|Daniel Dines (chairman and CEO) |Ashim Gupta (CFO)|Bobby Patrick (CMO)}}

| hq_location_city = One Vanderbilt
New York, New York

| hq_location_country = U.S.

| num_employees = 4,035 (2024)

| revenue = {{increase}} {{US$|1.31 billion|link=yes}} (2024)

| operating_income = {{nowrap|{{increasenegative}} {{US$|−165 million}} (2024)}}

| net_income = {{increasenegative}} {{US$|−90 million}} (2024)

| assets = {{increase}} {{US$|2.95 billion}} (2024)

| equity = {{increase}} {{US$|2.02 billion}} (2024)

| num_locations = 31 countries

| homepage = {{url|uipath.com}}

| footnotes = Financials {{asof|2024|1|31|lc=y|df=US}}.{{cite web|title= UiPath Inc. Full Year Ended 31 January 2024 Form 10-K Report |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1734722/000173472224000011/path-20240131.htm |website=SEC.gov |publisher=U.S. Securities and Exchange Commission |date=27 March 2024}}

}}

UiPath Inc. is a global software company that makes robotic process automation (RPA) software. It was founded in Bucharest, Romania, by Daniel Dines and Marius Tîrcă. Its headquarters are 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.{{Cite web |last=Levy |first=Ari |date=2021-04-21 |title=UiPath climbs 23% in stock market debut after one of largest US software IPOs in history |url=https://www.cnbc.com/2021/04/21/uipath-rises-17percent-in-nyse-debut-after-one-of-top-software-ipos-ever.html |access-date=2024-02-01 |website=CNBC |language=en}}

History

UiPath was founded in 2005 in Bucharest, Romania as DeskOver, by Romanian entrepreneurs Daniel Dines and Marius Tîrcă.{{cite web|url=http://business-review.eu/news/the-story-of-uipath-how-it-became-romanias-first-unicorn-164248 |title=The story of UiPath – How did it become Romania's first unicorn? |website=Business Review |date=September 4, 2018 |access-date=March 3, 2021}}

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.

In 2015, the company changed its name to UiPath. Also in 2015, after receiving seed funding from Accel Partners and earlier investors, the company also opened offices in London, New York City, Bangalore, Paris, Singapore, Washington, D.C., and Tokyo.{{cite web|url=https://www.romania-insider.com/romanian-tech-startup-uipath-raises-usd-30-mln-develop-intelligent-software-robots/|title=Romanian tech startup UiPath raises USD 30 mln to develop intelligent software robots|website=Romania-Insider.com|date=April 27, 2017 |access-date=March 9, 2018}}

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.

In 2017, UiPath reported 590 employees and moved its headquarters to New York to be closer to its international customer base.{{cite news|url=https://www.nytimes.com/reuters/2018/03/06/technology/06reuters-europe-venturecapital-romania.html|title=Romanian Firm Emerges as Leader in Automating Business Tasks|date=March 6, 2018|archive-url=https://web.archive.org/web/20180306184325/https://www.nytimes.com/reuters/2018/03/06/technology/06reuters-europe-venturecapital-romania.html|archive-date=March 6, 2018|url-status=dead|agency=Reuters}}

In October 2019, UiPath announced the acquisition of Ukrainian process documentation company StepShot and Dutch process mining company ProcessGold.{{cite web|url =https://venturebeat.com/2019/10/15/uipath-acquires-processgold-and-stepshot-to-help-businesses-identify-rpa-opportunities/|title=UiPath acquires ProcessGold and StepShot to help businesses identify RPA opportunities|website=VentureBeat|date=October 15, 2019|access-date=March 3, 2021}} 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.{{cite web|url=https://siliconangle.com/2019/10/15/uipath-debuts-new-tools-find-automate-business-processes/ |title=UiPath announces new tools and acquisitions to automate more business processes |website=Silicon Angle |date=October 15, 2019 |access-date=March 3, 2021}}

In November of the same year, the company reported it had 5,000 customers worldwide, and a developer community of more than 500,000 people.{{cite web|url=https://www.strategy-business.com/article/Making-automation-easy|title=PwC Strategy+Business: Automation Made Easy|website=Strategy + Business|date=November 20, 2019|access-date=March 3, 2021}} In November, the company was ranked first in the Deloitte Technology Fast 500.{{cite web|url=https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/fast500-winners.html|title=2019 Technology Fast 500 winners|website=www.deloitte.com|access-date=November 6, 2019}}

In March 2021, UiPath acquired Cloud Elements, an interconnectivity platform to advance API-based automation capabilities.{{Cite web |last=Busvine |first=Douglas |title=IPO contender UiPath extends automation offering with Cloud Elements buy |url=https://www.reuters.com/article/us-cloudelements-m-a-uipath/ipo-contender-uipath-extends-automation-offering-with-cloud-elements-buy-idUSKBN2BF2A1 |date=March 23, 2021 |website=Reuters}}{{Cite web |last=Deutscher |first=Maria |title=UiPath acquires Cloud Elements to advance API-based automation in the enterprise |url=https://siliconangle.com/2021/03/23/uipath-acquires-cloud-elements-advance-api-based-automation-enterprise/ |date=March 23, 2021 |website=SiliconANGLE}}

In April 2021, UiPath raised $1.3 billion in an initial public offering on the New York Stock Exchange in one of the largest US software IPOs in history.{{cite web|url=https://www.cnbc.com/2021/04/21/uipath-rises-17percent-in-nyse-debut-after-one-of-top-software-ipos-ever.html |title=UiPath rises 23% in NYSE debut? |website=CNBC |date=April 27, 2021 |access-date=April 27, 2021}}

In July 2022, UiPath acquired Re:infer, a natural language processing developer, for an undisclosed sum.{{cite news |url=https://www.wsj.com/articles/automation-tech-company-uipath-acquires-ai-startup-re-infer-11659393146 |title=Automation Tech Company UiPath Acquires AI Startup Re:infer |date=August 1, 2022 |work=The Wall Street Journal |last=Loten |first=Angus |url-access=limited}}{{Cite web |title=UiPath acquires London-based NLP startup Re:infer |url=https://techcrunch.com/2022/08/01/uipath-acquires-london-based-nlp-startup-reinfer/ |date=August 1, 2022 |website=TechCrunch |last=Sawers |first=Paul}}

In March 2025, UiPath acquired Peak, a Manchester-headquartered AI company specializing in agentic solutions for inventory and pricing optimization, for an undisclosed sum.{{Cite web |last=Lunden |first=Ingrid |date=2025-03-13 |title=UiPath looks for a path to growth with Peak agentic AI acquisition |url=https://techcrunch.com/2025/03/13/uipath-is-looking-for-a-path-to-growth-in-agentic-ai-with-its-peak-ai-acquisition/ |access-date=2025-04-07 |website=TechCrunch |language=en-US}}

Products

UiPath develops software to automate repetitive digital tasks normally performed by people. The technology combines AI computer vision for reading screens with APIs, and gives users access to pre-built automation components that can be combined to automate routine processes. 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.{{cite web|url= https://venturebeat.com/2019/06/22/uipath-rpa-and-ai-will-be-commoditized-productivity-tools-within-5-years/ |title=UiPath: RPA and AI will be commoditized productivity tools within 5 years |website=Venturebeat |date=June 22, 2019 |access-date=March 3, 2021}}{{Cite web|date=April 30, 2019|title=UiPath nabs $568M at a $7B valuation to bring robotic process automation to the front office|url=https://techcrunch.com/2019/04/30/uipath-rpa-series-d/|access-date=March 2, 2021|website=TechCrunch|language=en-US}} Newer applications of the company's software include coordinating with artificial intelligence systems to simplify repetitive front office tasks including customer management.

UiPath's main product is the UiPath Automation Platform.{{cite web|date=February 1, 2021|title=Robotic process automation platform UiPath raises $750M at $35B valuation|url=https://techcrunch.com/2021/02/01/robotic-process-automation-platform-uipath-raises-750m-at-35b-valuation/|access-date=March 3, 2021|website=Techcrunch}} 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.{{Cite web|url=https://www.infoworld.com/article/3393444/review-uipath-aces-robotic-process-automation.html|title=Review: UiPath aces robotic process automation|website=Infoworld|language=en-US|date=May 6, 2019|access-date = March 3, 2021}}

UiPath also hosts the UiPath Academy, to provide job training and certification in the field of robotic process automation.{{cite news|url= https://www.cxoinsightme.com/news/uipath-extends-its-online-rpa-academy-and-certification/|title=UiPath extends its online RPA academy and certification| last1=Lunden |first1=Ingrid |website=CXO Insight Middle East|date=April 3, 2020|access-date=March 3, 2021}}

Funding

class="wikitable"

!When

!Funding raised

!Valuation

!Who and notes

August 2015

|US$1.6 million

|UiPath closed an initial seed funding round led by the Earlybird Venture Capital, with Credo Ventures and Seedcamp as backers.

April 2017

|$30 million investment

|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.

March 6, 2018

|$153 million investment

|$1.1 billion

|from Accel, CapitalG, and Kleiner Perkins Caufield & Byers.{{cite news|last1=Lunden|first1=Ingrid|date=March 6, 2018|title=UiPath Confirms $153 M at $1.1B Valuation|website=TechCrunch|url=https://techcrunch.com/2018/03/06/uipath-confirms-153m-at-1-1b-valuation-from-accel-capitalg-and-kp-for-its-software-robots/|access-date=March 6, 2018}}{{cite news|date=March 6, 2018|title=UiPath Confirms $153 M at $1.1B Valuation|website=Reuters|url=https://www.reuters.com/article/brief-uipath-raises-153-million-series-b/brief-uipath-raises-153-million-series-b-led-by-accel-idUSFWN1QO0CZ|access-date=March 6, 2018}}

September 18, 2018

|$225 million

|$3 billion valuation

|Funding round led by CapitalG and Sequoia Capital.{{Cite web|date=September 18, 2018|title=With India Focus, Global Robotics Company UiPath Raises $225 Mn|url=https://inc42.com/buzz/with-india-focus-global-robotics-company-uipath-raises-225-mn/|website=Inc42 Media}}

April 30, 2019

|$568 million

|$7 billion (claimed by the company after the funding round)

|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.

July 13, 2020

|$225 Million

|$10.2 Billion.{{Cite web|title=UiPath reels in another $225M as valuation soars to $10.2B|url=https://techcrunch.com/2020/07/13/uipath-reels-in-another-225m-as-valuation-soars-to-10-2b|website=TechCrunch|date=July 13, 2020 |language=en-US}}

December 17, 2020

|UiPath filed a confidential draft registration statement with the United States Security and Exchange Commission for an initial public offering.{{Cite web|title=UiPath files confidential IPO|url=https://techcrunch.com/2020/12/17/uipath-files-confidential-ipo-paperwork-with-sec/|website=TechCrunch|date=December 17, 2020 |language=en-US}}{{Cite news|title=Software maker UiPath says it has confidentially filed for IPO|url=https://www.bloomberg.com/news/articles/2020-12-17/uipath-is-said-to-be-close-to-filing-confidentially-for-ipo|newspaper=Bloomberg.com|date=December 17, 2020|language=en-US}}{{Cite web|title=UiPath files for IPO, could become one of New York City's largest tech companies|url=https://www.cnbc.com/2020/12/17/uipath-files-for-ipo-could-become-one-of-nycs-biggest-tech-companies.html|website=CNBC|date=December 18, 2020|language=en-US}}{{Cite web|title=UiPath: Get ready for another big software IPO|url=https://www.barrons.com/articles/uipath-files-confidentially-for-ipo-51608252665|website=Barrons|language=en-US}}

February 1, 2021

|$750 million

|$35 billion (post-money valuation)

|Series F funding.