{"id":14035,"date":"2019-01-24T17:51:50","date_gmt":"2019-01-24T17:51:50","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/blue-prism-to-issue-130m-in-stock-to-raise-new-funds.html"},"modified":"2019-01-24T17:51:50","modified_gmt":"2019-01-24T17:51:50","slug":"blue-prism-to-issue-130m-in-stock-to-raise-new-funds","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/blue-prism-to-issue-130m-in-stock-to-raise-new-funds.html","title":{"rendered":"Blue Prism to issue $130M in stock to raise new funds"},"content":{"rendered":"

Just this morning robotic process automation (RPA) firm, Blue Prism, announced enhancements to its platform<\/a>. A little later the company, which went public on the London Stock Exchange in 2016, announced it was raising \u00a3100 million (approximately $130 million) by issuing new stock. The announcement comes after reporting significant losses<\/a> in its most recent fiscal year, which ended in October.<\/p>\n

The company indicated that it plans to sell the new shares on the public market, and that they will be made available to new and existing shareholders including company managers and directors.<\/p>\n

CEO Alastair Bathgate attempted to put the announcement in the best possible light. \u201cThe outcome of this placing, which builds on another year of significant progress for the company, highlights the meteoric growth opportunity with RPA and intelligent automation,\u201d he said in a statement.<\/p>\n

While the company\u2019s revenue more than doubled last fiscal year from \u00a324.5 million (approximately $32 million) in 2017 to \u00a355.2 million (approximately $72 million) in 2018, losses also increased dramatically from \u00a310.1 million (approximately $13 million) in 2017 to\u00a0\u00a326.0 million (approximately $34 million), according to reports<\/a>.<\/p>\n

The move, which requires shareholder approval, will be used to push the company\u2019s plans, outlined in a TechCrunch article earlier this morning<\/a>, to begin enhancing the platform with help from partners, a move the company hopes will propel it into the future.<\/p>\n

Today\u2019s announcement included a new AI engine, an updated marketplace where companies can share Blue Prism extensions and a new lab, where the company plans to work on AI innovation in-house.<\/p>\n

Bathgate isn\u2019t wrong about the market opportunity. Investors have been pouring big bucks into this market for the last couple of years. As we noted, in this morning\u2019s article<\/a>, \u201cUIPath, a NYC RPA company has raised almost $450 million. Its most recent round in September was for $225 million on a $3 billion valuation. Automation Anywhere, a San Jose RPA startup, has raised $550 million including an enormous $300 million investment from SoftBank in November on a valuation of $2.6 billion.\u201d<\/p>\n

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Blue Prism looks to partners to expand robotic process automation with AI<\/a><\/p>\n<\/blockquote>\n

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Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/QYPgiHxUyBo\/<\/p>","protected":false},"excerpt":{"rendered":"

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