Power Automate is Microsoft's platform for streamlining repetitive workflows -- you may remember it under its original name: Microsoft Flow. The market for these robotic process automation (RPA) tools is hot right now, so it's no surprise that Microsoft, too, is doubling down on its platform. Only a few months ago, the team launched Power Automate Desktop, based on its acquisition of Softomotive, which helps users automate workflows in legacy desktop-based applications, for example. After a short time in preview, Power Automate Desktop is now generally available. The real news today, though, is that the team is also launching a new tool, the Process Advisor, which is now in preview as part of the Power Automate platform.
All the sessions from Transform 2021 are available on-demand now. Blueprint Software Systems has released a new solution for robotic process automation (RPA) migrations to the Microsoft Power Automate platform. This could tilt the balance in the RPA market toward Microsoft's lower-cost offerings with native integrations into popular productivity apps. Leading RPA companies, including UiPath, Automation Anywhere, and Blue Prism, have an extended lead time over Microsoft. These companies have developed a substantial base of loyal enterprise customers.
Tray.io, whose General Automation Platform enables citizen automators in any business role to build enterprise-class integrations and automation themselves in a low-code environment, announced significant connectivity advancements of the Tray Platform, including new and improved connectors for dozens of leading enterprise services such as NetSuite, Snowflake, and Twilio. The company also announced the beta launch of its Connector SDK and new on-premise connectivity options, delivering true universal connectivity for the enterprise. With its latest enhancements, the Tray Platform empowers both technical and non-technical users with the flexibility to integrate any application and automate mission-critical businesses processes at scale. Enterprise workflow automations present inherent challenges due to the breadth of applications used across both technical and line-of-business teams. Effectively building a diverse set of automations across the enterprise requires connectivity with all systems, particularly to enable business users to manage and maintain these workflows themselves.
Robotic process automation startup UiPath today announced it has closed a $225 million funding round, bringing its total raised to over $1.2 billion. While the new round is roughly half the $568 million UiPath raised last April, it catapults the New York-based company's post-money valuation to $10.2 billion, up from $7 billion in 2019 and $3 billion in 2018. CEO Daniel Dines says the funding will be used to scale UiPath's platform and deepen its investments in "AI-powered innovation" as it expands its cloud software-as-a-service (SaaS) offerings. The round will also likely lay the groundwork for future strategic deals, following UiPath's acquisition of startups StepShot and ProcessGold last October. RPA -- technology that automates monotonous, repetitive chores traditionally performed by human workers -- is big business.
We have been through a decade of great technological change. Technologies that are at the center of our lives now – Smartphones and Social media truly became ubiquitous in the 2010s. The same can be said of Robotic Process Automation (RPA) – the big three started out in the 2000s but got into their own in the 2010s. It was a great decade and a great year for RPA. Let us take a look at the past year and what we can expect in the new decade.