UiPath & Robotic Process Automation
So it finally happened. A Cinderella fairy tale enacted on NYSE. Robotic Process Automation (RPA) software firm UiPath (PATH) was founded in Romania and $30 million in VC funding from Accel Partners in a Series A round at $110 million valuation. Now PATH has risen 25% on its first day after its NASDAQ IPO and is valued at $40 billion. Irrational exuberance? Yes. Even though I believe this is one of the game changer enterprise software businesses in Silicon Valley.
RPA has emerged as a foundation technology in industries as diverse as finance, healthcare, retailing and telecom, with artificial intelligence (AI) and machine learning (ML) as its digital DNA.
Accel's $30 million is now a 25% stake in PATH valued at a cool $10 billion in only 6 years. Now that is what I call supermoney and this is the reason I am in permanent deal heat talking to my VC cronies in the Bay Area/LA for the next enterprise software AI/ML monster deal with a credible 10 to 12X potential.
PATH is just the tip of an iceberg, the software revolution that will change the world and disrupt even the most ossified, bureaucratic, regulated, change resistance industries on the planet. Deal hunting time now amigos.
Matein Khalid is the Chief Investment Officer of Asas Capital Management. He has 25 years of experience in international capital markets as an advisor to family offices and fund managers. He has worked for investment banks/hedge funds in New York, Chicago, London, and Geneva. In addition, he has been the CIO of a technology fund in San Francisco, a royal investment office in Dubai and a public insurance company listed on the DFM.
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