UI Path, the first Romanian company which has become an unicorn after reaching a market value of $1 B, has just stepped to a new height. After several financing rounds, its market value exceeeded $10 B, making it a decacorn.
UI Path has reached this performance after receiving a financing of $225 million from Alkeon Capital Management, thus getting to a market value of $10.2 billion.
The company has recently announced it has $400 million in yearly recurring revenues, which makes it a very attractive and profitable investment for all those who finance the investment rounds. With clients like Google, Amazon or even NASA, UI Path has succeeded in automating the repetitive processes for more than 65% from Forbes TOP 500.
As Daniel Dines, the CEO, stressed out, the COVID-19 pandemic added value to the company, as lots of clients understood the importance of the RPA software. This solution does not only replace the work of many people, but also allows the companies which implement RPA solutions to continue their activity even during the lock down, social distancing or remote work.
This funding allows us to accelerate our platform ambitions to meet mounting customer demands and scale the tremendous opportunity to bring automation to one billion citizen developers – resulting in every business finally becoming a software business. We will advance our market-leading platform and will continue to deepen our investments in AI-powered innovation and expanded cloud offerings. COVID-19 has heightened the critical need of automation to address challenges and create value in days and weeks, not months and years. We are committed to working harder to help our customers evolve, transform, and succeed fast in the new normal.Daniel Dines, CEO UI Path