UiPath is one of European tech’s biggest success stories — and now its alumni are breeding new ventures.  

The Romanian software automation company, launched in 2005, went public in 2021 on the New York Stock Exchange, in one of the US’s biggest software IPOs. Currently the company’s valued at $8.4bn, and it employs more than 4,000 people in offices around the world.  

Now, some UiPath employees have left to set up their own businesses — a situation often seen at successful tech companies, notably at PayPal, Skype and UK fintechs Revolut and Monzo. UiPath alumni are building around the world but they’re also re-energising the young Romanian startup ecosystem.  

We’ve profiled five of the most interesting UiPath alumni-founded companies. 

Kubeark

Kubeark, a startup set up by six former UiPath employees, has just announced a $2.8m pre-seed round. The company helps businesses adopt cloud technology in a sustainable way by, for example, enabling them to customise the pace of cloud adoption, supporting them to develop new distribution channels via cloud marketplaces and by offering cloud cost visibility and a toolkit for cost optimisation.

The startup, which is headquartered in the US but has a team in Romania, has attracted a crowd of CEE investors, including early backers of UiPath Czech VC Credo Ventures and UK VC Seedcamp, as well as Bulgaria’s LAUNCHub Ventures and Istanbul-based 500 Emerging Europe.

Goodlegal 

Bucharest-based Goodlegal was launched in November 2022 by UiPath’s former general counsel, Vasile Țiple. It’s a legal infrastructure platform that aims to drive frictionless legal engagement between companies and their stakeholders.

The startup raised its €1.2m pre-seed round from investors who are also linked to UiPath: Earlybird Digital East Fund led the round, joined by Credo, Romanian Underline Ventures and UiPath’s CEO Daniel Dines as an angel investor. 

Atomic Invest

Marco Alban-Hidalgo, a former senior machine learning product manager at UiPath, in 2020 cofounded his own fintech, Atomic Invest. The San Francisco-based startup, launched in 2020, provides other fintechs and banks with investing API to seamlessly integrate investing into their products. The company raised a $25m Series A in 2021, in a round co-led by US VC QED Investors and UK VC Anthemis with the participation of Japan’s SoftBank and famed US startup accelerator Y Combinator.

Actyv.ai

UiPath’s influence has reached as far as to India, where the company has an engineering backoffice — in 2019, Raghu Subramanian, who was the CEO and chairman of the board of UiPath India and one of the company’s founding members of the management team, founded his own startup Actyv.ai. The business, which offers embedded finance for the B2B ecosystem, in January raised a $7m pre-Series A funding round from 1Digi Ventures, a Singapore-based VC and Subramanian’ family office. 

Leaf Round

Another UiPath’s spinoff in India — in 2022 the company’s former senior software engineer, Avinash Verma, set up his new startup Leaf Round. The Bangalore-based fintech, which offers asset renting as an alternative investment product, raised a $300k pre-seed round last year from Indian VC firms Upsparks Capital and Superb Capital and senior business leaders from McKinsey, Bain, Barclays and Adobe.

Zosia Wanat is Sifted’s central and eastern Europe reporter, based in Warsaw. She tweets from @zosiawanat.