Description
UiPath 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.
History
UiPath was founded in 2005 in Bucharest, Romania as DeskOver, by Romanian entrepreneurs Daniel Dines and Marius Tîrcă.
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.
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.
In June 2019, research firm Gartner announced that from 2017 to 2018 UiPath moved from #5 to #1 in RPA market share. In September, UiPath was ranked #3 on the Forbes Cloud 100. 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."
In October 2019, UiPath announced the acquisition of Ukrainian process documentation company StepShot and Dutch process mining company ProcessGold. 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.
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. In November, the company was ranked first in the Deloitte Technology Fast 500.
In April 2020, UiPath was named the top tech company and #2 overall in the Financial Times FT1000 ranking of Americas' fastest growing companies 2020. In June, UiPath was named to the CNBC 2020 Disruptor 50 ranking. In September, UiPath was ranked #3 on the Forbes Cloud 100 list for the second consecutive year. On December 17, Bloomberg reported that UiPath filed confidentially for an initial public offering (IPO).
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.
