UiPath, which develops software for robotic process automation, filed on Friday with the SEC to raise up to $1.0 billion in an initial public offering.
UiPath provides a set of capabilities to discover automation opportunities and build, manage, run, engage, measure, and govern automations across departments within an organization. As of January 31, 2021, the company had 7,968 customers, including names such as Adobe, Chipotle Mexican Grill, CVS Health, and Uber Technologies.
The New York, NY-based company was founded in 2005 and booked $608 million in revenue for the 12 months ended January 31, 2021. It plans to list on the NYSE under the symbol PATH. UiPath filed confidentially on December 17, 2020. Morgan Stanley, J.P. Morgan, BofA Securities, Credit Suisse, Barclays and Wells Fargo Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
