New bot on the block

Global automation company doubles down on Houston as it grows its United States presence

UiPath's Houston office is in a historic downtown Houston building that's been renovated. Courtesy of Main&Co

When UiPath decided to look into an office in Houston, it was a bit of a gamble, since Houston's not particularly known for its wealth of hardware talent.

"We did a little bit of an experiment to see what the skills would be like specifically in a Houston office," Marie Myers, CFO of the company and based in Houston, tells InnovationMap. "As a robotics company, we weren't sure if we'd get more of those software skills. It's not a natural market for those skills."

But Houston — and Texas in general — is a great location for the robotics process automation company, Myers says. It's central and optimal for customer acquisition. Valued at $7 billion, UiPath has over 2,500 customers — adding six more a day on average, according to a news release.

Since beginning Houston operations in January, Myers says she's very pleased with the 71-person team the company has assembled locally, and the company has even expanded in that short time. Following a $568 million Series D round closing, the company almost doubled its office size.

"The Series D is critical for us as we continue to grow and we're using those proceeds to grow our base across the world, and obviously part of the Houston expansion has been just that," Myers says.

UiPath plans to really settle into Houston and even bring a an RPA Immersion Lab into its Houston office. The lab would allow for potential customers to try out the technology and run simulations. The lab is on the docket for 2020, Myers says.

Another way UiPath is engaging with the Houston community is through its connection to students and universities. The company has an arrangement with six universities in Houston and is even located just across the street from the University of Houston-Downtown. Myers says the company had one of its largest group of interns working in Houston.

"It's going to be so important for students graduating to have experience in up-and-coming technologies, like RPA," Meyers says. "We see such great support from the local universities."

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Building Houston

 
 

this one's for the ladies

Texas named a top state for women-led startups

A new report finds that the Lone Star State is ideal for female entrepreneurs. Photo via Getty Images

Who runs the world? According to Merchant Maverick's inaugural Best States for "Women-Led Startups'' study, Texas is a great place for women to be in charge.

The Lone Star state cracked the top 10 on the list, earning a No. 6 spot according to the small business reviews and financial services company, which based the study on eight key statistics about this growing segment of the economy. Colorado (at No. 1), Washington, Virginia, Florida, and Montana were the only states to beat out Texas on the rankings—leading the Merchant Maverick team to conclude that "the part of the country that lies west of the Mississippi is great for startups led by women entrepreneurs."

Women-led startups in Texas received $365 billion in VC funding in the last five years, the report found. This is the seventh largest total among U.S. states. Too, about 20 percent of Texans are employed at woman-led firms, which is the fifth highest percentage among states. Roughly 35 percent of employers in Texas are led by women.

A few other key findings that work in female founders' favor: The startup survival rate in Texas is nearly 80 percent. And a lack of state income tax "doesn't hurt either," the report says.

Still there are shortcomings. On a per capita basis, only 1.27 percent of Texas women run their own business. The average income for self-employed women is also relatively low ranking among states, coming in around $55,907 and landing at 31st among others.

This is not the first time Texas has been lauded as a land of opportunity for women entrepreneurs. A 2019 study named it the best state for business opportunities for women. Houston too has proven to support success for the demographic. The Bayou City was named in separate studies a best city for female entrepreneurs to start a business and to see it grow.

Still, as many findings have concluded, the realities of the pandemic loom for all startups and small business owners. The Merchant Maverick study was careful to add: "The pandemic has changed the economic landscape over the past year, and often for the worse.

"This means that not every metric may be able to accurately gauge how a state might fare amidst the pandemic," the report continues. "To help factor in COVID's impact, we included some metrics that take 2020 into account, but it will be a while until we get a full picture of the pandemic's devastation.""

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