Robotic Process Automation (RPA) provider UiPath has filed for IPO. The company experienced strong growth during the corona pandemic and is expected to make a lot of money when it goes public.
What kind of market value UiPath has in mind is not known. In the registration form, the company mentioned a provisional amount of 1 billion dollars, but the stock market value is expected to exceed this considerably. In 2019, the company managed to raise more than half a billion dollars in an investment round, bringing the total investment to 7 billion dollars (6 billion euros). The number of shares available and the price of these shares are also unknown. The company can be found under the designation PATH. Rumours about a possible IPO have been circulating for some time.
Robotic Process Automation
UiPath focuses primarily on the development of RPA tools. These tools make it possible to automate repetitive business processes. Examples include going through a number of steps to add new customers to a database. Users do not have to put these processes together by themselves. The RPA software follows the user’s behaviour and looks for steps that are repeated regularly. Based on this, the software suggests processes that can be automated.
With such RPA tools, employees no longer have to go through the processes manually and they are taken over by robotic processes that can execute them more reliably and much faster. This leaves the employee with more time for work that cannot be automated just yet.
RPA popularity skyrocketing
According to SiliconANGLE, while RPA tools were popular before the corona pandemic, their popularity has soared in the past year as companies look for ways to make their employees more productive during the pandemic. UiPath competitors Automation Anywhere and Blue Prism are also doing well, and many other companies are also adding RPA solutions to their software.