UiPath

UiPath

UiPath is a software company designing and developing robotic process automation software.

UiPath is a software company, a Robotic Process Automation vendor that provides software platform to help organizations automate business processes.

The company specializes in robotic process automation technology, or software that helps companies save time and money by automating repetitive, manual tasks such as entering data into spreadsheets.

Hyperautomation Platform Addresses the End-to-End Automation Lifecycle

UiPath is delivering a true end-to-end hyperautomation platform that combines the core RPA capabilities of building, managing, and running robots with tools for process discovery, and analytics to report clear business impact. New capabilities available include:

Use AI to analyze back-end systems and application logs. UiPath Process Mining (formerly ProcessGold) creates visualizations that depict business processes, deviations, and where to automate for the most impact. By providing a holistic overview of business processes, showing how robots and humans interact, Process Mining gives customers a data-driven approach to discover and continuously improve their processes.

Process document data fast and accurately to compete in a changing digital age. UiPath Document Understanding AI helps users extract and interpret data from different documents and ensure end-to-end document processing. The tool works with a wide range of documents from structured to unstructured documents, recognizes different objects like handwriting or checkboxes, and can deal with various file formats.

Enable all employees to chip in as Citizen Developers by automating their own tasks. UiPath StudioX is the automation design canvas for business users. Built in close collaboration with customers over the past year, StudioX allows a broader range of subject-matter experts to rapidly automate their work without the need for developer resources or coding.

Gain more control and flexibility over attended bots with new user interface. UiPath Assistant provides more efficiency and flexibility by allowing users to schedule reminders for running attended automations. Background processes give attended robots the ability to concurrently run multiple automations that may monitor events or process jobs. This further improves employee productivity and rapid return on automation investments.

Centralize automation initiatives and increase employee engagement. UiPath Automation Hub brings every employee into the process of uncovering automation opportunities. Every employee can introduce ideas for automations, creating a gamification – or crowdsourcing – capability ideal for Robotic Operations Centers of Excellence to collect opportunities, and manage a pipeline of robots to free employees from mundane tasks across every corner of an enterprise.

Apply AI to analyze how people get work done. UiPath Task Mining (formerly Explorer Enterprise), enables automation teams to capture, analyze, and prioritize processes run in any department. This scientific approach gives the core automation team the ability to capture, analyze, and prioritize processes run in any department for automation.

Apply AI to your RPA workflows in minutes. AI Fabric bridges the gap between RPA and data science teams, helping enterprises automate more complex and cognitive processes. New in this release is Model Retraining, which allows exceptions and corrections to make the models better over time. This means the more AI Fabric is used, the harder it will work – with robots becoming better at their job over time.

Daniel Dines and Marius Tirca founded UiPath in 2005 in Bucharest, Romania. It is now based in New York City.

Timeline

July 13, 2020

UiPath raises $225 million in a Series E round of funding, bringing its valuation to $10.2 billion.

The new round, which was led by Alkeon Capital, brings the company’s total funding to more than $1.2 billion. Other investors in the round include Accel, Dragoneer, Coatue Management, IVP, Sequoia Capital, Madrona Venture Group, Tencent, Tiger Global Management, Wellington Partners and T. Rowe Price and Associates.

April 30, 2019

$568m Series D on a $7 billion valuation.

The round led by Coatue Management. Joining Coatue in UiPath's Series D round were Dragoneer, Wellington, Sands Capital, and funds and accounts advised by T. Rowe Price Associates.

March 21, 2019

UiPath raises $400m in Series D funding of $7 billion valuation.

UiPath founded in 2005 has raised $409 million to date

March 2019

Series D - $400m

March 6, 2018

UiPath garners $1.1 billion valuation with its Series B in March 2018.

2005

UiPath founded by Daniel Dines and Marius Tirca.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
UiPath funding round, April 2019
568,000,000
April 2019
7 Results
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People

Name
Role
LinkedIn

Daniel Dines

Co-Founder

Marius Tirca

Co-Founder

Further reading

Title
Author
Link
Type
Date

Robotics process automation startup UiPath raising $400M at more than $7B valuation

Kate Clark

Web

March 22, 2019

Software Maker UiPath in Talks for Funding at $10 Billion-Plus Value

Katie Roof

Web

June 17, 2020

UiPath nabs $568M at a $7B valuation to bring robotic process automation to the front office

Ingrid Lunden

Web

April 30, 2019

UiPath Tutorial for Beginners

Web

June 5, 2020

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
AlleyWatch
July 15, 2020
AlleyWatch
The Pulse of New York Tech
admin
July 13, 2020
AlleyWatch
The Pulse of New York Tech
Sophia Kunthara
July 13, 2020
Crunchbase News
Robotic process automation software startup UiPath landed $225 million in a Series E round of funding, bringing its valuation to $10.2 billion.
By Joe Pinkstone For Mailonline
March 26, 2020
Mail Online
Mater Misericordiae University Hospital in Dublin will now have robots that rapidly process administrative and computer-based tasks that nurses normally have to do.
Benjamin Pimentel
November 8, 2019
Business Insider
UiPath cut hundreds of jobs because of soaring expenses and missed revenue targets, according to a presentation reviewed by Business Insider.
Ingrid Lunden
July 11, 2019
TechCrunch
Robotic Process Automation has been the name of the game in enterprise software lately -- with organizations using advances in machine learning algorithms and other kinds of AI, alongside big-data analytics to speed up everything from performing mundane tasks to more complex business decisions. To underscore the opportunity and growth in the market, today a [...]
June 3, 2019
WebWire
BAE Systems is a technology partner with robotic process automation (RPA) leader, UiPath, in developing suites of software robots that its customers can use to automate high-volume, repetitive business processes. RPAs fuel machine learning tools by feeding them high volumes of structured data necessary for it to begin learning and improving automatically, without being programmed," said Don DeSanto, director of strategic partnerships for the BAE Systems Intelligence & Security sector....
Kate Clark
March 21, 2019
TechCrunch
The company, which is more than doubling its valuation, is expected to do $450 million in ARR in 2019, TechCrunch has confirmed.

References

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