Photographer: Marko Geber / Digital Vision / Getty Images
Photographer: Marko Geber / Digital Vision / Getty Images
UiPath Inc., a $ 35 billion software maker after this year’s funding round, filed for an initial public offering showing 81% year-over-year revenue growth.
The company filed in Friday listing the size of its IPO as $ 1 billion, a place that could change when it sets conditions for the sale of the shares.
UiPath specializes in automated process automation technology, software that helps companies save time and money by automating repetitive, manual tasks such as inserting data into pages -clide. It competes with Automation Anywhere Inc., supported by SoftBank Group Corp.
UiPath, which started in Romania and is now headquartered in New York, said in December that it had secretly filed for an IPO.
The company said in its file with the US. Securities and Exchange Commission that it generated a net loss of $ 92 million on revenue of $ 608 million in the 12 months ended January 31. That compared to a net loss of $ 520 million on income- an income of $ 336 million a year earlier.
It burned less cash for the year to January 31, showing an operating cash flow of $ 29 million compared to a loss of $ 359 million a year earlier.
UiPath raised $ 750 million in a funding round led by Alkeon Capital and Coatue, according to a recited in February. Altimeter Capital Management, Dragoneer, IVP, Sequoia Capital, Tiger Global Management and took money with advice from T. Rowe Price Associates Inc. participate in that tour as well.
UiPath said in July it was valued at $ 10.2 billion after a $ 225 million funding round. Other investors in the company include Accel, Alphabet CapitalG Inc., Kleiner Perkins and Meritech Capital Partners.
UiPath expects its shares to trade on the New York stock exchange under the PATH symbol.
The IPO is led by Morgan Stanley, JPMorgan Chase & Co., Corp Bank of America, Credit Suisse Group AG, Barclays Plc and Wells Fargo & Co.