- Uipath was a compact startup from Romania.
- It developed a platform for Robotic Process Automation (RPA).
- UiPath develops software to automate repetitive digital tasks.
- SAP, Microsoft, IBM and ServiceNow are the firms currently using RPA.
UiPath is a New York City-based global software company. It develops a platform for robotic process automation (RPA). The company’s software monitors user activity to automate repetitive front and back-office tasks. And including those performed using other business software such as customer relationship management or enterprise resource planning (ERP) software.
UiPath was founded in 2005 in Bucharest, Romania as DeskOver, by Romanian entrepreneurs Daniel Dines and Marius Tîrcă. UiPath develops software to automate repetitive digital tasks normally performed by people. The technology combines emulating how humans read computer screens (AI Computer Vision) with API. Users can access prebuilt 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.
UIpath a small startup from Romania rises to valuation of $35 Billion.
UIpath was compact startup out of Romania working in a minimal known region of company computer software called robotic approach automation (RPA). Then the corporation took off with progressively large multi-billion greenback valuations. It progressed via its investment rounds, culminating with a $750 million spherical on an eye-popping $35 billion valuation final thirty-day period.
The Firm took the future step on its quick-fireplace evolutionary route when it submitted its S-1 to go public. To illustrate just how quickly the company’s rise has been, get a search at its funding background.
RPA With large enterprise software companies.
RPA is better understood these days with large enterprise software companies. It includes SAP, Microsoft, IBM, and ServiceNow. With RPA, companies can automate an earthly process, such as processing an insurance process, working automatically, bringing humans only when necessary. For example, instead of someone entering a number from email to a spreadsheet, this can happen automatically.
In June 2019, Gartner reported that RPA was the fastest growing sector in enterprise software, growing more than 60% per year, attracting investors and large enterprise software vendors into space. Although the market feels small given the size of the company’s valuation, it is still a nascent place. In its S-1 filing this morning, the company drew a rosy picture, estimating the market with a $ 60 billion address.
When the TAM estimate is large, UIPath states that the number is much higher than the pure RPA in what they call “intelligent process automation”. This may include not only RPA, but also discovery, workflow, no-code development, and other forms of automation.
