UiPath IPO: 10 RPA Takeaways From S-1 SEC Filing

Robotic course of automation (RPA) software program firm UiPath has filed an S-1 kind with the SEC (Securities and Alternate Fee) to pursue a possible IPO (preliminary public providing).

Listed here are 10 — make that 15 — key takeaways from the UiPath IPO submitting, together with ChannelE2E’s evaluation of the RPA software program firm:

1. Proposed New York Inventory Alternate (NYSE) buying and selling image: PATH

2. UiPath Mission: To “Unlock human creativity and ingenuity by enabling the “totally automated enterprise” and empowering staff via automation.”

three. Earlier Funding: The IPO-related submitting comes after UiPath raised $750 million in Collection F funding in February 2021, and achieved a post-money valuation of $35 billion. That spherical spherical was co-led by current buyers Alkeon Capital and Coatue. Different returning buyers embrace Altimeter Capital, Dragoneer, IVP, Sequoia, Tiger International, and T. Rowe Worth Associates.

four. Goal Market: Clever Course of Automation, which shall be a $30 billion market by 2024, in keeping with Worldwide Information Company (IDC), up from $17 billion in 2020. 16% compound annual development fee (CAGR). UiPath believes the chance is even bigger.

5. RPA Software program Phase Defined: RPA software program permits companies to put in writing code and bots that quickly automate guide duties throughout a number of departments — from IT service desks to HR, finance, buyer help and extra. Demand for RPA software program is accelerating. Certainly, international RPA software program income is projected to achieve $1.89 billion in 2021, up 19.5% from 2020, according to Gartner.

6. UiPath Income: Annual income was $607.6 million for the fiscal 12 months ended January 31, 2021 — up 81 p.c from $336.2 million the earlier 12 months.

7. UiPath Internet Loss: The corporate had an annual internet lack of $92.four million for the fiscal 12 months ended January 31, 2021 — far smaller than a $519.9 million loss the earlier 12 months.

eight. Channel Companions: UiPath’s enterprise accomplice ecosystem consists of greater than three,700 international and regional system integrators, value-added resellers (VARs), and enterprise consultants. The accomplice community consists of such main gamers as Accenture, Capgemini, CGI, Cognizant Expertise Options, Deloitte & Touche, Ernst and Younger, KPMG, and PricewaterhouseCoopers.

9. Income From Channel Companions: UiPath derived a “substantial” quantity of income by way of via channel companions over the previous two years, however didn’t disclose particular figures.

10. MSPs: Alas, UiPath didn’t point out an MSP accomplice technique within the SEC submitting. The corporate’s Automation Cloud is a managed, multi-tenant SaaS choice. Although we don’t know if it’s multi-tenant for MSP companions.

11. Enterprise Prospects: The corporate had 7,968 clients as of January 2021 — up from 6,009 clients in January 2020. Key adopters embrace 80% of the Fortune 10 and 63% of the Fortune International 500. Noteworthy clients embrace Adobe, Utilized Supplies, Chevron, Chipotle Mexican Grill, CrowdStrike, CVS Well being, Deutsche Publish DHL, EY, Generali, KDDI, SBA Communications, Takeda Prescription drugs, and Uber Applied sciences.

12. Small Enterprise Prospects: Though UiPath is finest often known as an enterprise automation answer, the corporate additionally has an inside gross sales staff centered on small and midsize companies.

13. Technical Alliances: Key technical alliances span such corporations as Amazon Net Companies Inc., Adobe Inc., Alteryx Inc., Field, Inc., IBM, Microsoft, Oracle, Salesforce.com, inc., SAP, ServiceNow, and Workday.

14. Current Acquisition: Cloud Elements for API-based automation.

15. UiPath Options and RPA Software program Market CompetitorsMultiple companies are acquiring RPA software providers and related RPA consulting abilities. Key RPA software program corporations embrace Automation AnywhereBlue Prism, and Microsoft Power Automate.  Furthermore, ServiceNow acquired Intellibot, an RPA startup, in mid-March 2021.

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