UiPath was founded in 2005 by Marius Tirca and Daniel Dines. In an interview with Bloomberg in February 2020, while discussing an IPO CEO Daniel Dines noted “there’s no reason to hurry,” though he acknowledged “you have to become a public company at some point to allow your employees to get more liquidity…we’re almost there.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
UiPath develops Robotic Process Automation software which helps organizations efficiently automate business processes. The company has raised nearly $1.23 billion in Venture Capital funding from investors including Base partners, Alkeon, Tencent, Tiger Global Management, Coatue Management, Dragoneer Investment Group, Geodesic Capital, Greenspring Associates, IVP, Madrona Venture Group, Meritech Capital Partners, Sequoia Capital, CapitalG, Kleiner Perkins, Accel, and Earlybird Venture Capital. Per company press releases, UiPath last raised $225 million in July 2020 at a post-money valuation of $10.2 billion.