- Co-Head, Private Investments
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At a glance
New York, NY
City, State (founded: Bucharest, Romania)
2005
Year founded
26 August 2019
Investment date
Matt Witheiler
Deal lead
Information technology
Sector
Series D-1, D-2, and E Preferred Stock
Series invested
Company overview
UiPath aims to use the transformative power of automation to liberate the boundless potential of people—and drive profitable growth for enterprises. The AI-powered UiPath Business Automation Platform combines leading robotic process automation (RPA) with a full suite of capabilities to understand, automate, and operate end-to-end processes, offering unprecedented time to value.
Investment thesis
At the time of our investment in April 2019, we viewed robotic process automation as one of the fastest growing segments of the software market. We recognized UiPath as a leader in the category and believed in their ability to maintain tremendous adoption and growth to capture a meaningful portion of the multi-billion-dollar segment.
Wellington was a strategic pre-IPO partner for UiPath as we transitioned from the private to the public markets. They bring an extensive knowledge base and a broad network of relationships that was very helpful for us in the IPO process.
The statement and opinion presented above is an endorsement provided by Daniel Dines, Founder and CEO of UiPath, a portfolio company in which a Wellington-advised client invests. He is not an investor in private funds managed by Wellington Management. Wellington Management has not provided any cash or non-cash compensation for the use of this statement. The ownership structure of portfolio company investments creates a conflict of interest since Senior Executives have an incentive to make positive statements about Wellington and their experiences to maintain goodwill. This statement describes Dines’ experience with Wellington Management and/or its supervised persons and may not be representative of the experience of others.
We were thrilled to partner with UiPath's visionary management team and believed their cutting-edge technology harnessing AI to automate digital tasks to be industry leading.
Meet the late-stage growth team