UiPath, the leading Enterprise Robotic Process Automation (RPA) software company, announced today that it has grown 238 percent in the first half of 2018, crossing $100 million in annual recurring revenue, a key financial metric for subscription software companies. Earlier this year, the company raised $153 million at a valuation exceeding $1.1 billion. UiPath now counts more than 1,500 customers that use its RPA platform. Key to driving adoption is the thriving UiPath Community that now includes more than 200,000 users worldwide, and UiPath Academy, the company’s online, self-led training program that has enrolled more than 100,000 users.
UiPath’s adoption is widespread, across all geographies and sectors. New customers include American Red Cross, BMW Group, Carlsberg, Dentsu, Inc., Fujifilm, Japan Airlines, Korea Telecom, Landmark Group, LG, Manpower, Mizuho Financial Group, NASA, Pandora, Sompo Japan Nipponkoa Insurance Inc., SMBC Group, Tarmac, U.S. Department of Defense and U.S. Department of Homeland Security and Wärtsilä.
UiPath’s global operations footprint has more than doubled in the past six months to 21 offices across 14 countries. Since January 2018, UiPath has opened new operations in Amsterdam, Austin, Dubai, Houston, Madrid, Mumbai, Munich, Paris, Seoul, Singapore, Washington D.C., and its first U.S. product development center in Bellevue, Washington.
The company now has more than 1,000 employees and plans to increase its employee count by an additional 50 percent by year end. Capping off the first six months of the year, UiPath was named a leader in The Forrester Wave™: Robotic Process Automation, Q2 2018 achieving the highest score in the “Current Offering” category, the highest possible score in the “Market Presence” category and among the highest scores in the “Strategy” category.
Earlier this year, the company released UiPath 2018 “Firefly,” further demonstrating that RPA is the best path to AI. UiPath 2018.2, the most recent release, offers the industry’s most versatile approach to AI in enterprise automation with core product capabilities that ensure extensibility, enabling easy integrations to AI offerings developed at startups, universities, and technology leaders.
Daniel Dines, co-founder and CEO of UiPath, said:
We are excited about the momentum of the business. It’s truly rewarding to see RPA come to life within our customers’ organisations. RPA is driving measurable value inside business operations today, and yet there’s much more we will achieve as we bring forth intelligent automation and AI within the enterprise. By all accounts, we’re just getting started.