UiPath finds firmer financial footing with pivot to general automation and AI
And investors seem to approve
Back in early 2021, it seemed everything was going right for UiPath. At a time when there were a number of high-flying enterprise startups, UiPath was at the top of the heap when it raised $750 million at a $35 billion valuation. In hindsight it was an outrageous overreach, but it felt pretty good at the time.
The company would go public, riding the wave of that gaudy valuation, and while it started strong in the public markets, it would fall to earth over the following year as the markets began to cool and investors started judging SaaS companies much more harshly. With a plunging stock price a year after going public, it was time to make a bold move.
