Artificial Intelligence · Profile from AI Research Companion
UiPath
The robotic process automation (RPA) company, founded in Bucharest in 2005 by Daniel Dines and Marius Tîrcă, that built software "robots" to click through legacy screens on behalf of office workers, rode a 2018–21 venture boom to a ~$35bn private valuation, listed on the New York Stock Exchange in April 2021 and then lost most of that value as growth slowed. Since 2024 it has tried to turn its installed base of scripted bots into the orchestration layer for large-language-model (LLM) agents — "agentic automation" — while competing with Microsoft Power Automate, ServiceNow, Salesforce and the model labs' own agents. It is a test case for whether an automation incumbent gains or loses when AI makes automation cheap: in fiscal 2026 (year to 31 January 2026) it reported revenue of ~$1.61bn (+13%), annual recurring revenue (ARR) of ~$1.85bn (+11%) and its first full year of GAAP operating profit (company).
At a glance
- Founded
- 2005, Bucharest, Romania, as DeskOver, by Daniel Dines and Marius Tîrcă; renamed UiPath and refocused on RPA products around 2015
- Headquarters
- New York City (moved from Bucharest as it scaled, ~2018); large engineering base remains in Romania; offices across Europe, India, Japan and the US
- Ownership / structure
- Public on the NYSE (ticker PATH) since 21 April 2021; dual-class shares give Dines control of a majority of votes (reported, verify current percentage); early investors included Accel, CapitalG (Alphabet), Sequoia, Kleiner Perkins, Coatue and Alkeon
- Leadership (2026)
- Daniel Dines (co-founder; CEO again since 1 June 2024); Ashim Gupta (CFO, also COO; verify current title); Rob Enslin was co-CEO (May 2022–January 2024) and sole CEO (February–May 2024)
- AI products
- RPA robots and Studio (design tools); Document Understanding and Communications Mining (Re:infer, acquired 2022); Autopilot and Clipboard AI (generative-AI assistants, 2023); AI Trust Layer; Agent Builder (preview October 2024); UiPath Platform for Agentic Automation with Maestro orchestration (launched 30 April 2025); vertical agents from Peak (2025) and WorkFusion (2026)
- Scale
- ARR ~$580m (January 2021, S-1); ~$1.67bn (January 2025); ~$1.853bn (January 2026); ~$1.938bn (31 July 2026) (company). Revenue ~$1.43bn (FY2025), ~$1.611bn (FY2026); FY2027 guidance ~$1.79bn (September 2026, reported, verify). Dollar-based net retention 109% (Q2 FY2027)
- Capital raised
- Series A ~$30m led by Accel (2017); $153m Series B at ~$1.1bn (March 2018); $225m Series C at ~$3bn (September 2018); $568m Series D at ~$7bn (April 2019); $225m Series E at ~$10.2bn (July 2020); $750m Series F at ~$35bn (February 2021); IPO at $56 a share, ~$1.3bn raised including selling shareholders (April 2021) (reported)
- Key partnerships
- Microsoft (Azure, Copilot and Power Platform integrations, alongside competition); Google Cloud; AWS; SAP; Snowflake; model partners announced at the FUSION conference (September 2025: OpenAI, Nvidia, Google; Anthropic models in agent tooling — verify scope); systems integrators including Accenture, Deloitte and Infosys
- Signature moves (incl. failures)
- The Bucharest founding and the RPA bet (2005–15); the venture hypergrowth ladder to $35bn (2018–21); the IPO and the valuation collapse (2021–22, failure); Enslin as co-CEO and the enterprise reset (2022–23); the 2024 guidance cut, Enslin's exit and Dines's return (failure); the agentic platform and Peak (2025); the frontier-model partnerships (2025); the first GAAP profit and WorkFusion (2026)
8 strategic moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2005
Bucharest Founding and the RPA Bet
Founding / pivot
2018
Venture Hypergrowth Rounds to 35bn
Funding round (series of rounds)
2021
NYSE IPO and the Valuation Collapse
IPO (failure in valuation terms)
2022
Enslin Co CEO and the Enterprise Reset
Restructuring / leadership change
2024
Enslin Exit Guidance Cut and Dines Return
Restructuring / leadership change (failure)
2025
Agentic Automation Platform and Peak
Launch / acquisition
2025
Frontier Model Partnerships OpenAI Nvidia Google
Partnership
2026
First GAAP Profit and WorkFusion
Restructuring (profitability milestone) / acquisition