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How investors in $10 billion UiPath spotted an emerging European software decacorn - Business Insider

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How investors into $10 billion UiPath spotted an emerging European software decacorn

Enterprise software startup UiPath is Europe's latest decacorn, hitting a valuation of $10 billion after a Series E fundraise in July.

"When I first met Daniel I was struck by his conviction," Reshma Sohoni, partner at Seedcamp, said. "He was talking about RPA which was a product that was hard to imagine at the time but his belief and self confidence were already there."UiPath — Romania's first unicorn startup, Europe's latest decacorn, and one of the fastest growing software companies in the world — started in a flat in Bucharest in 2005.

Business Insider spoke to two key European investors in the buzzy software startup, Seedcamp partner Reshma Sohoni who invested in 2016, and Accel partner Philippe Botteri who led the company's $30 million Series A in 2017, to understand how to spot a potential decacorn. In 2005, CEO Daniel Dines and CTO Marius Tirca founded DeskOver, an automation library startup that would eventually pivot to become UiPath.

The company took the bold move of founding a US office and soon caught the attention of VC investors including Earlybird, Credo Ventures and Seedcamp, which funded a $1.6 million seed round in the company.

 

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