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07 Mar 2018, Natalia Mihailova, EMIS Editor

First Romanian "tech unicorn” plans expansion

Romanian startup UiPath, that has recently reached a valuation to up to USD1.1 thus becoming the first Romanian “tech unicorn”, has announced plans to open an additional R&D center in Romania, Ziarul Financiar reported.

The company, which builds AI-based services for enterprises in the area of robotic process automation (RPA) intends to grow the number of employees to 1,000 from the current 590 it already has in 14 countries worldwide. Since it’s customer portfolio has increased from fewer than 100 customers to more than 700 in 2017, UiPath has set the target to hire the best 1% software engineers in Romania as well as attract the best people globally, Ziarul Financiar added.

In 2017 the company’s revenues have increased eightfold. Now, valued at USD1.1 billion, UiPath’s value has increased more than ten-fold the company’s valuation in Aprili last year, when it managed to draw a USD30 million series A funding.

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