Despite laying off nearly 400 employees late last month, UiPath has topped a list of the fastest growing technology companies in North America. In its 2019 Technology Fast 500, global business consultancy Deloitte named UiPath number one in its annual list of fastest growing companies.
Deloitte based the list on revenue growth from 2015 to 2018. During that period, UiPath increased its revenue by nearly 37,500 percent. Number two on the list—Massachusetts biotech firm Sarepta Theraputics—increased revenue by nearly 24,000 percent. Median growth rate for the 500 companies on the list was 439 percent.
In his blog post acknowledging the layoffs, Daniel Dines allowed that growth may have been too fast. But, recognition as the top growth company in North America is welcome, according to Dines, and testifies to the health of the RPA space.
“It goes without saying that topping the list is an absolute honor and testament to all the hard work of our employees, customers, partners, investors and RPA ecosystem as a whole,” he said. “Business leaders everywhere are seeking ways for their organizations to be more productive, keep employees more engaged and customers elated. With a vision of A Robot for Every Person, UiPath is leading this workforce revolution and I couldn’t be prouder of our company as we continue to push forward the ‘automation first’ era.”
Software companies dominated Deloitte’s list, including another RPA provider—WorkFusion, at number 129, saw revenue growth of nearly 1,000 percent from 2015 to 2018.