UiPath CFO explains how managing the HP cut up and educating herself to construct bots led her to the $7.1 billion startup
- In January, Marie Myers turned the CFO of robotic course of automation startup UiPath, which is now value $7.1 billion.
- Myers first realized of UiPath when she was managing the funds of Hewlett-Packard’s cut up, the place she taught herself learn how to construct bots to automate monetary duties.
- After constructing lots of of bots, Myers wished to maneuver from working at a big company like HP to a startup, and he or she noticed a serious alternative with UiPath.
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Marie Myers is the CFO of robotics startup UiPath. However to many individuals, she’s also called GSD — or “get stuff accomplished.”
And there isn’t any scarcity of stuff for Myers to deal with as she manages the funds at one of many buzziest, and fastest-growing tech startups at present.
The robotic course of automation (RPA) firm, which creates software program robots that do the grunt work of tedious duties, is now value $7.1 billion. Numbers leaked to Enterprise Insider confirmed that UiPath grew its income by an astounding 5,614% in simply over two years. It has signed up marquee clients just like the Division of Protection and NASA, and in April UiPath introduced it raised $568 million in funding.
Myers began at UiPath in January, and now, she says she mainly lives on a United airplane, touring across the nation for work. These days, she’s been serving to UiPath construct a crew in Seattle, speaking to actual property brokers for the brand new workplaces.
“I am an individual who likes to get issues accomplished,” Myers tells Enterprise Insider. “I discover the quick proper solution to do it. If you wish to get into one thing, change into the perfect you possibly can. These values simply aligned with my private values.”
Managing the HP cut up
That “quick proper manner” of doing issues is what introduced Myers to UiPath, after taking a crash course in constructing bots at her earlier job.
Earlier than she joined UiPath, Myers had spent a big chunk of her profession at HP. In 2014, she managed the funds of HP’s cut up into two firms: HP for its personal-computer and printer segments and Hewlett-Packard Enterprise for its company and providers enterprise.
Myers stumbled into robotics as she served because the finance lead for the HP separation. As a result of she needed to handle the monetary construction and functions of the corporate because the finance lead for the separation, she taught herself learn how to construct bots that would assist her out.
“Considered one of my finest experiences was going by the cut up within the firm,” Myers stated. “That taught me a lot about having the velocity and tenacity and going by a transparent distinct imaginative and prescient.”
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To review up on robotics, she known as up professors, learn case research, and sat down with builders to learn to construct bots. She additionally employed trade consultants to start out constructing automation software program. Myers herself constructed bots for monetary functions, invoicing, money functions, accounting, and extra.
“It was just about a self taught journey,” Myers stated. “There was no actual college. It was troublesome to rent anybody who knew learn how to do it again within the day. It was the very early days of the market.”
Throughout this time, she says her largest problem was changing into the mom of twins. Her twins have been nonetheless infants when she was requested to guide the authorized and monetary cut up at HP.
“I nearly stated no,” Myers recollects. “I turned down a extremely huge job about two years earlier than that. I am glad I did it as a result of it gave me the boldness to determine learn how to be a working mother. You are able to do it, and it’s important to work out learn how to get the steadiness proper. It’s a must to be practical about what you possibly can and can’t get accomplished. It is rewarding.”
‘A number of hundred bots later’
As she appeared into bots and automation software program, Myers first heard about UiPath in 2016. On the time, Myers says, UiPath was not very well-known.
Nonetheless, UiPath led to a cultural change at her firm, Myers says. Her co-workers have been excited they did not must do boring, guide duties anymore, and as a substitute, may get into roles that added extra worth.
Later, Myers met UIPath CEO and co-founder Daniel Dines. They began speaking about alternatives at a espresso store in Houston.
“A number of hundred bots later, I made a decision it was such an unimaginable expertise that I wished it to be a part of my journey,” Myers stated. “It was probably the most highly effective utility I had seen in my two decade profession. I had by no means seen something that delivered such unimaginable outcomes. Furthermore, had a extremely constructive affect.”
The chance to hitch UIPath and be part of it was too good to cross up.
“I had lived by the journey of cut up transformations so many instances at a big firm that I wished to do one thing way more entrepreneurial for this stage of my profession,” she says. “Particularly, UiPath for me had the expertise, and at last, it had the tradition.”
She sees an enormous alternative for UiPath. On a bigger scale, the RPA software program market grew 63.1% in 2018 to $846 million, making it the fastest-growing section within the enterprise software program market in response to Gartner. UiPath is the highest firm in that class, that very same report says.
As CFO of UiPath, she needs to lift the platform for ladies in tech.
“Being in loads of circles round digital transformation, it is essentially vital for ladies to be a part of this dialog,” Myers says.
Apart from that, she needs to see UiPath change into “extremely profitable and ensure it is arrange for the long run”
“We acquired our eye on the prize sooner or later,” she says.
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