Enterprise Robotic Process Automation (RPA) software company UiPath, founded by Romanian entrepreneurs, is preparing to list its shares under an initial public offering (IPO) next year, announced the company's co-founder Daniel Dines.
The coronavirus pandemic brought this step closer, as the company’s profitability — a prerequisite for the IPO — has significantly improved, Dines argued.
"We had plans for listing on the stock exchange before the coronavirus pandemic, but we made a promise that we would apply for the IPO only when we were profitable. Now, the pandemic has accelerated our plans, we are in a very solid financial situation and we clearly plan to apply for the IPO next year,” Dines said in an interview with CNN.
In February, Dines only indicated that UiPath was approaching the listing of its shares without mentioning a date. Now, Dines has announced 2021 as a firm deadline.
One week ago, UiPath attracted new funding from a group of investors led by Alkeon Capital Management. The company founded by Dines and Marius Tirca raised $225mn in a round of Series E financing, obtaining a post-investment valuation of $10.2bn.