UiPath, the leading enterprise Robotic Process Automation (RPA) software company, today announced it is the fastest growing technology company in North America according to Deloitte’s 2019 Technology Fast 500 (Tech Fast 500). The Tech Fast 500 recognizes 500 of the fastest-growing private and public companies spanning technology, media, telecommunications, life sciences and energy technology in North America based on percentage of fiscal year revenue growth from 2015 to 2018. During this time period, the company increased its operating revenue by 37,458 percent.
UiPath’s growth is unparalleled among software companies. Because of UiPath’s ease of use, scalability and open platform, the company has cultivated the world’s largest RPA community exceeding 3,000 customers, including more than 50 percent of the Fortune 500 and eight of the Fortune 10.
In 2019 alone, the company closed its Series D funding round of $568 million, valuing the organization at $7 billion, and continued to innovate its RPA platform through new features, integrations and acquisitions, including ProcessGold and StepShot, to make it more powerful and user friendly for all employees. Additionally this year, UiPath earned the number 3 spot on Forbes 2019 Cloud 100 and was ranked a Leader in the Forrester Wave™: Robotic Process Automation, Q4 2019, achieving the highest possible score in the Current Offering, Market Presence and Strategy categories. The company will end 2019 at $300 million in annual recurring revenue.
“At this time last year, we had just broken onto the Tech Fast 500 at number 26. It goes without saying that topping the list is an absolute honor and testament to all the hard work of our employees, customers, partners, investors and RPA ecosystem as a whole,” said Daniel Dines, CEO and cofounder, UiPath. “Business leaders everywhere are seeking ways for their organizations to be more productive, keep employees more engaged and customers elated. With a vision of A Robot for Every Person, UiPath is leading this workforce revolution and I couldn’t be prouder of our company as we continue to push forward the ‘automation first’ era.”
To be eligible for Tech Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Eligible companies must also have base-year operating revenues of at least $50,000 and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered in North America.
Overall, 2019 Tech Fast 500 companies achieved revenue growth ranging from 166 percent to 37,458 percent from 2015 to 2018, with median growth of 439 percent. UiPath is one of three New York-based companies ranked in the top 10 this year.
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
UiPath is leading the “automation first” era – championing one robot for every person, delivering free and open training and collaboration and enabling robots to learn new skills through AI and machine learning. Led by a commitment to bring digital era skills to more than a million people, the company’s enterprise Robotic Process Automation (RPA) platform has already automated millions of repetitive, mind-numbing tasks for business and government organizations all over the world, improving productivity, customer experience and employee job satisfaction.
Recently recognized as the top company on Deloitte’s 2019 Technology Fast 500 and number 3 on the 2019 Forbes Cloud 100, UiPath is one of the fastest growing and highest-valued AI enterprise software companies worldwide.