UiPath, one of the fastest-growing and most heavily-funded enterprise software companies in the world today, has acquired StepShot, a Lviv, Ukraine-based startup that specialises in automated process documentation. Terms were not disclosed, but AIN reports that the transaction was part cash, part equity, and that StepShot was hitting almost $500,000 in annual revenue from hundreds of customers.
Startup Wise Guys, an early investor in StepShot, says the company was initially established to help companies create guides and video tutorials, but had since pivoted to helping them with process documentation instead.
That evolution makes it a better fit for UiPath, which is known for its 'Robotic Process Automation' software, helping its own customers improved means of discovering, understanding, improving and automating their processes.
"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," said StepShot co-founder and CEO Sasha Reminnyi.