BPRMF - Robotic process automation company UiPath confirms confidentially filing for IPO

UiPath (UIPTH) confirms to Bloomberg that it has confidentially filed for an IPO and says the number of shares and price range have yet to be determined.Earlier today, Bloomberg sources said UiPath could file as early as this week for a 2021 IPO that could have a valuation above $20B.During a July funding round, UiPath said it had a $10.2B valuation.Last month, Bloomberg reported that UiPath was working with advisers JPMorgan, Morgan Stanley, Bank of America, and Credit Suisse on the potential offering.UiPath competes with Blue Prism (BPRMF) and Softmotive, which Microsoft acquired in May to build on its robotic process automation efforts after adding RPA to its Power Automate solutions last year. .

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Robotic process automation company UiPath confirms confidentially filing for IPO