UiPath announced that it has submitted the documentation for an initial public offering (IPO), an operation at the end of which it could be valued at over 20 billion dollars, Bloomberg reports.
UiPath said the size and price of the IPO had not yet been scheduled. However, sources quoted by Bloomberg say that the initial public offering could take place in the first half of next year.
Investors in UiPath include Accel, Sequoia Capital, Coatue Management, Tiger Global Management LLC and Tencent Holdings Ltd.
Founded in Romania in 2005, under the name DeskOver and renamed UiPath in 2015, the company has among its entities entities such as the CIA, the US Navy, McDonald’s, Duracell and Swiss Re.
The company had revenues of $ 360 million last year, after helping some of the largest US companies to automate their routine processes.
In July this year, UiPath announced that it was valued at $ 10.2 billion, after a new round of funding worth $ 225 million.