Huge congratulations to Daniel and the entire UiPath team on becoming a publicly traded company on the NYSE! We have loved being your partners on the journey and can’t wait to see what you accomplish in you next.
We first met Daniel in a tiny conference room in a WeWork in New York City in 2017. The conversation ended up lasting many hours and spanned from personal stories about how we each grew up, to leaders who inspired us, to Daniel’s incredible vision for the company. It was clear to us from that very first meeting that Daniel was an extraordinarily thoughtful and courageous leader and that UiPath was a very special company. We have been thrilled to partner closely with Daniel and his team since investing in the Series B in 2018.
UiPath’s success has been hard won. The co-founders and early team spent more than ten years building the product and technology before hitting a period of explosive growth over the past five years. In their transformation from a small start-up in Romania to the global leader in automation, UiPath has grown to more than $580M of ARR and now serves 60% of the Fortune 500 and eight of the Fortune 10. What’s most exciting, though, is how early we are in realizing UiPath’s broad platform vision to enable the fully automated enterprise.
UiPath’s success shows how category-defining companies can emerge anywhere in the world; in fact, being based outside of tech hubs can be a competitive advantage. Starting in Romania compelled UiPath’s leadership team to think internationally from day one. Their platform, their offices and their sales operations needed to be built with global markets in mind, rather than starting in one market and slowly moving outward. This global mindset positioned UiPath to grow in an accelerated way and enabled them to access a large market with unprecedented speed.
UiPath’s journey is a testament to what we always look for in founders: a bold, clearly articulated vision, incredible grit and unyielding perseverance, and an ability to attract the kind of world-class talent necessary to build a generational business.
Congratulations to Daniel and the entire UiPath team. You’ve built a platform that is valued and loved by thousands of customers, as well as a strong and enduring company and culture that inspires entrepreneurs worldwide. Each day, you come closer to realizing your mission to “accelerate human achievement.” We feel so fortunate to be your partners on this journey and look forward to congratulating you on many more incredible milestones to come.