UiPath - the first Romanian "UNICORN"

Romanian IT company UiPath has received an international funding of over $ 150 million. Money is provided by several experienced investors in the field of technology. This funding now values UiPath at more than $ 1 billion, according to Reuters.

In the financial language / jargon, startup companies valued at over $ 1 billion are called "unicorns".

UiPath, which grew out of the region’s decades-old low-cost software development scene, produces robotic software to carry out repetitive tasks such as cancelling a lost credit card or insurance claims processing, customer order fulfillment and human resources set-up functions.

Specialized in the development of solutions to automatize the repetitive activities of a company by using robotics, UiPath had about 600 employees last year. Most important clients of the company are from the United States and Japan.

Source:RRA,Reuters. Translated by Miruna Matei