Reuters reports that UiPath Inc has initiated discussions to hire investment banks as it prepares for a U.S. initial public offering that could value the New York-based robotic software startup at more than $15 billion, according to people familiar with the matter.
UiPath is seeking to hire IPO underwriters as it gets ready to go public in 2021, the sources said, cautioning that the timing, valuation and deal size are subject to market conditions.
The sources requested anonymity as the matter is confidential. UiPath declined to comment.
UiPath’s IPO would make it the latest U.S. software company to go public. Data warehouse company Snowflake Inc SNOW.N raised more than $3 billion last week in the largest IPO of the year, while Unity Software raised $1.3 billion in an upsized IPO.
Other high-profile debuts are lined up before the end of the year, with the likes of Palantir Technologies, Airbnb, Asana and DoorDash all set to go public in the coming weeks.
UiPath has so far raised over $1 billion in funding from venture capital investors such as Accel, Sequoia Capital, Coatue Management and CapitalG, and was valued at $10.2 billion after its last funding round earlier this year.