In the Company Watch series we always look at particularly innovative and creative companies from all over the world. Today we take a look at Romania, where Europe’s highest rated start-up is based.
A Series E financing round this month drives the value of UiPath to $10.2 billion. This makes the company the first venture capital-financed start-up in Europe to pass the $10 billion mark.
UiPath is a global software company that has developed a platform for robotic process automation and made headlines in 2019 when it became the highest rated AI start-up in the world. Since acquiring ProcessGold and StepShot in 2019, UiPath has been the first vendor to combine both ProcessGold and robotic process automation, bringing together two very closely related markets in one product.
The company’s software automates work processes in companies and thus ensures a significant increase in efficiency in manufacturing and process flows. Whether in invoicing, claims settlement or customer service – UiPath’s programs are designed to relieve employees and support them in their daily work. The total market for such applications is currently estimated at over 30 billion dollars.
The company’s motto speaks volumes: “We make robots. So that people don’t have to be robots” and has convinced several investors. In addition to Alphabet, venture capitalists include companies such as Accel and CapitalG.
Founder Daniel Dines has been causing a stir in the scene for quite some time: He made headlines as early as 2019, when UiPath became the world’s highest rated artificial intelligence start-up. Back then, investors invested 568 million dollars in the company. At that time, the company was mainly backed by US investors such as the venture capitalist of Google’s parent company Alphabet, Wellington and Accel.
Post picture: UiPath
