What's 🔥 in Enterprise IT/VC #230
🤯 UiPath files for IPO - from screen scraping & UI automation to market leader in RPA
Ed Sim | Mar 27 |
What's 🔥 in Enterprise IT/VC #230🤯 UiPath files for IPO - from screen scraping & UI automation to market leader in RPA
Congrats to Daniel Dines and the UIPath team and investors (wish I were one!) on their IPO filing. While there will be many who breakdown the S-1 way better than I, I just wanted to highlight a few 🔑 thoughts centered around the story. First - big mission - “We make software robots so people don’t have to be robots.” with a purpose “To accelerate human achievement.” Second, the vision leads to the story around the “fully automated enterprise” and full platform approach. But it started here in 2012 as Deskover, a screen scraping & UI automation product for desktop and web. Remember, you can’t sell a platform, and need to start with a product first. In March of 2013, Deskover became UIPath. As you can see, the story evolved to process automation and a broader story on workflow and workflow automation. And by the end of 2014, the true robotic process automation story starts. And here is how they’ve done since: Simply insane numbers and the dollar based net retention at 145% is off the charts for a company of that size.
While @UiPath generates $435M ARR or 75% of its $580M ARR from top 1,002 accounts for an ASP of $434k, it has an insane bottom up land & expand motion as well with $145M ARR from its other 6,966 customers for an ASP of $22k
Just insane execution 🤯 - S-1
sec.gov/Archives/edgar… Despite the heavy reliance on its top 1,000 customers over $100k, the bottom up, land and expand business could be a public company unto itself at $145M ARR!
Congrats again to the UiPath team for an amazing story and execution. As always, 🙏🏼 for reading and please share with your friends and colleagues! Scaling Startups
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