With the acquisition of Cloud Elements, UiPath strengthens its RPA solution with its native API-based integration capabilities. More than 200 additional integrations with applications are thus made.
On the rise in the robotic process automation (RPA) market, UiPath completes its range of technologies. After the record fundraising of $ 750 million in early February, which valued the Romanian-born publisher at $ 35 billion, it is not surprising to see the latter now announcing a new acquisition. This is Cloud Elements, a publisher specializing in API integration. The amount of the repurchase is not communicated. With this contribution, UiPath will therefore allow companies to combine automation capabilities based on user interface and APIs, the latter being done natively with dozens of applications in the cloud and on-premises, including ERP and CRM. Cloud Elements brings 200 additional native integrations to UiPath that will trigger automation from an event.
The publisher argues that the standardized approach adopted for integrations makes it easy to set up. These are accessible at every stage of the automated process lifecycle and the existing automation library can be used by the IT team, RPA developers or business developers. UiPath was already developing its own APIs, but the growing adoption of its platform by its customers required it to scale its capabilities more quickly. In France, its solution was notably installed by the Armed Forces commissariat. Cloud Elements users include software vendors such as SAP, DocuSign, Axway, Xerox and Dun & Bradstreet.
A market boosted by digital transformation
UiPath was created in 2005 in Bucharest by Daniel Dines, CEO, and Marius Tirca, CTO. Its growth in the RPA market has been very rapid over the past three years. In 2018, the publisher chained two fundraising events, $ 153 million in March, $ 225 million in September before another round of $ 568 million in series D in May 2019 preceding the $ 750 million in February 2021. In 2020, the digital transformations brought about by the health crisis have further boosted the investments made by companies in RPA. The workforce of the European publisher now reaches 3,000 people. For several years, its head office has been based in New York.
UiPath stands out from its competitors on the Q1 2021 Forrester Wave on RPA. (Credit: Forrester)
In its latest Wave report on RPA solutions, Forrester ranks UiPath as the leader ahead of Microsoft, Automation Anywhere, Nice and Kryon. Just behind, in the Strong Performers category, come WorkFusion, Pegasystems, EdgeVerve, SAP, Blue Prism, Hyland, Cyclone Robotics and, a little further, Datamatics, followed by Kofax.