After months of speculation, UiPath is set to hit the market. Maxim Manturov, Head of Investment Research at Freedom Finance Europe, advises why UiPath should be on your watchlist for the week ahead.
Following an important year of growth, UiPath will now go ahead with its initial public offering (IPO) on April 20th. The company is expected to raise $1.06 billion with its share prices predicted to range between $43 -$50, pushing the company’s value to $25.8 billion.
The New York based business has seen its popularity skyrocket since the pandemic started last March. With remote working now becoming more popular and organisations looking to enhance and boost their efficiency, businesses have been increasingly reliant on UiPath’s technology.
The robotic process automation (RPA) software company, uses artificial intelligence to build software robots that let companies automate back-office, repetitive and time-consuming tasks, allowing workers to move away from the mundane jobs and focus their attention on things that bring more value to their company. UiPath’s popularity saw it raise $750 million in February 2021 making it one of the most valuable privately held tech companies in the U.S.
As of January 2021 the business had just under 8000 customers with a presence in almost 30 countries and this growth shows no signs of slowing down, making it one to watch out for this week.