Romanian unicorn UiPath prepares for listing
UiPath, the first unicorn set up by Romanian entrepreneurs, is looking to hire investment banks that will manage the company's listing, scheduled for 2021, according to Reuters.
The initial public offering (IPO) could value the company at USD 15 billion, sources said. This summer, the company was valued at just over USD 10 bln following the latest funding round.
In July, Daniel Dines, the company's CEO and co-founder, officially announced that UiPath was preparing an initial public offering for 2021.
In 2018, UiPath became the first "unicorn" set up by Romanian entrepreneurs, after the company was valued at over USD 1 bln in a Series B financing round, attended by Accel, CapitalG (Alphabet's investment division, the parent company of Google) and Kleiner Perkins Caufield & Byers. This summer, UiPath was valued at USD 10.2 bln in a new investment round of USD 225 mln.
Launched in 2015, UiPath has become the Enterprise Robotic Process Automation (RPA) platform with the highest adoption rate. The startup develops and sells RPA technology, the software robots created by the company being programmed to take over the "copy-paste" type work previously performed by human employees.
(Photo source: Facebook/UiPath)