UiPath has taken over StepShot. StepShot is a Ukrainian startup that specializes in automating process documentation. Financial details of the acquisition have not been disclosed.
StepShot offers technology for monitoring actions by users, enabling customers to save time and accelerate the achievement of the desired results. StepShot is now expected to generate nearly 500,000 dollars (446,000 euros) in annual sales, writes AIN. The company has about a hundred customers.
UiPath wants to use StepShot’s technology to expand its own software package. With the acquisition, UiPath can automate customer processes even more efficiently.
The intention is that StepShot will continue to work on its existing product after the acquisition, but under the flag of its new parent company. The team of twenty people remains in the company. Two of the co-founders work at UiPath, where they are responsible for leading the product development of the existing product.
UiPath
UiPath is one of the market leaders in the field of robotic process automation (RPA). The company deploys software robots to observe workflows in common business applications and then looks for ways to automate repetitive tasks.
Specifically, UiPath creates software robots that monitor users’ individual keystrokes as they work with applications. The robots identify repeating patterns to give suggestions to automate them.
UiPath also offers an extensive ecosystem around RPA, where free training programs are offered.
Most valuable startup
UiPath has done more than right lately. In May this year, the company became the most valuable artificial intelligence start-up in the world. That news followed an investment of $568 million, bringing the company’s value to $7 billion.
The investment round in question was led by Coatue. Other participants were Dragoneseer, Wellington, Sands Capital and funds and accounts advised by T. Rowe Price Associates.
This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.
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