RPA startup UiPath acquires StepShot, adds process documentation to its platform
UiPath, a US-based robotic process automation company with its development centre in India announced the acquisition of StepShot, a provider of process documentation software.
Daniel Dines, UiPath Co-founder and CEO, said,
“We work closely with customers to build automation strategies that transform their business. Yet there is still huge untapped value in making the documentation process into an easier, more effective solution. The acquisition of StepShot immediately helps us solve that for our customers.”
Together, UiPath and StepShot will try to accelerate customers’ automation journeys by enabling them to quickly and easily record, document, and share processes as well as automate key steps in robot creation.
In April 2019, UiPath closed its Series D investment round of $568 million at a post-money valuation of $7 billion, from investors like Coatue, Dragoneer, Wellington, Sands Capital, Accel, CapitalG, Sequoia, IVP, and Madrona Venture Group.
Earlier in March, it unveiled an ambitious goal of training over five lakh students in India in RPA over the next three years.
The startup claims to be the first among leading RPA vendors to offer such capabilities built directly into its platform. This is a key differentiator as enterprises seek to successfully implement and expand their RPA deployments for a broad spectrum of well-defined and undefined processes.
Building on this acquisition and the ProcessGold acquisition earlier this October, UiPath has introduced the UiPath Explorer product family. The UiPath Explorer family is designed to simplify process understanding.
It makes it easy it to identify, document, analyse, and prioritise processes, with a unique ability to understand both front-line and back-line operations, through scientific and visual analysis, the company said in a release.
StepShot CEO and Co-founder Sasha Reminnyi said,
“I am extremely proud of what we have built at StepShot, and bringing those capabilities together with UiPath’s best-in-class RPA capabilities will materially benefit enterprises globally by helping them more easily achieve their automation goals and improve time to ROI.”
(Edited by Saheli Sen Gupta)