Given the current environment and heightened sensitivities around funding sources for private companies, UiPath has committed to full transparency in this area, as well as our company performance. This commitment is in line with our culture and support for openness and transparency in our business practices and operations.
Business Performance, Revenue Growth
In July, we shared important financial results regarding UiPath’s annual recurring revenue (ARR), noting that we crossed $100 Million. ARR is a key financial metric that defines subscription software company performance. Today, we can report that we have crossed $150 Million. With our revenues and growth, and our positions in leading analyst reports this year, we are confident that UiPath is the market leader in RPA.
An ever-growing number of customers continue to choose UiPath for their automation-first journey; UiPath’s customer base has grown 4x since the end of 2017. UiPath counts 25 U.S. Government agencies as customers, including the Army, Defense Logistics Agency, GSA, IRS, NASA, Navy, and the Department of Veterans Affairs and we know that they, and indeed all of our 2,100 private and public sector customers around the world, have high expectations for UiPath to help them realize their full digital potential.
There is a large amount of capital flowing into the RPA and AI markets. But not all investors are the same. It’s the people behind them that matter to us, which is why given the heightened state of attention in the market today regarding corporate governance and the quality of advisors, we would like to provide full disclosure of UiPath investors:
Accel (U.S. / E.U.)
CapitalG (Google) (U.S.)
Credo Ventures (E.U.)
Earlybird Venture Capital (E.U.)
Kleiner Perkins (U.S.)
Madrona Venture Group (U.S.)
Meritech Capital (U.S.)
Sequoia Capital (U.S.)
We continue to surround our company with the advisors and investors that match our ideals, culture, and ambition. Last month, we announced new member appointments to the UiPath board, which is made up of both top-tier VC partners and Fortune 500 executives, including the following in alphabetical order:
Ondrej Bartos, Partner, Credo Ventures
Carl Eschenbach, Partner, Sequoia Capital
Luciana Lixandru, Partner, Accel
Dan Lupu, Partner, Earlybird Venture Capital
Tom Mendoza, Vice Chairman, NetApp
S. Somasegar, Partner, Madrona Venture Group
Laela Sturdy, Partner, CapitalG
Rich Wong, Partner, Accel
Every UiPath employee lives our culture every day: Humble, Fast, Bold, and Immersed. Openness and transparency across everything we do run deep.