Blue Prism Announces £100M in Funding via Placing with New and Existing Investors
20 March 2019
AUSTIN, Texas, and LONDON, Jan. 24, 2019 /PRNewswire/ -- Blue Prism (AIM: PRSM) announced earlier today a placing of shares with new and existing investors (including directors and management) to raise £100M (approx. USD $130M) in fresh funding. Closing of the transaction is conditional on a resolution approving it being duly passed at the forthcoming shareholder general meeting on Feb. 11, 2019. The funds raised will fuel the company's connected-RPA vision unveiled today along with planned investments in R&D, sales, marketing, customer experience, community and global expansion.
On the heels of the closing of the company's third fiscal year (ended Oct. 31, 2018) since going public on the AIM market of the London Stock Exchange in 2016, this additional funding is testament to the value enterprises derive from Blue Prism solutions. The financial results for FY18 published today demonstrate the group's continuing sales momentum and success with new and existing customers. Significant progress made in the US (a key strategic market), ongoing international expansion, and continued product development will help service the rise in global demand for Blue Prism's enterprise level, connected-RPA offering. This is further reinforced by the slate of product updates announced today, which highlight the increasing sophistication and intelligence of Blue Prism's technology.
"The 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," said Alastair Bathgate, CEO and co-founder at Blue Prism. "In addition to our continued investment in the organization, infrastructure and global expansion, we'll use the £100M raised to drive our connected-RPA vision—empowering and connecting the entrepreneurs and innovators within an enterprise to adopt transformative technologies that enable them to be agile, disruptive and keep pace with changing market demands."
About Blue Prism
In this digital era where start-ups are constantly disrupting markets, only the most agile and innovative enterprises survive and thrive. At Blue Prism, we pioneered Robotic Process Automation (RPA), emerging as the trusted and secure intelligent automation choice for the Fortune 500 and public-sector market. Now we bring you connected-RPA supported by the Digital Exchange (DX) app store—marrying internal entrepreneurship with the power of crowdsourced innovation.
Blue Prism connected-RPA can automate and perform mission critical processes, allowing your people the freedom to focus on more creative, meaningful work. More than 1,000 major enterprise customers leverage Blue Prism's digital workforce, empowering their people to automate billions of transactions while returning hundreds of millions of hours of work back to the business. Visit www.blueprism.com to learn more about Blue Prism (AIM: PRSM).
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SOURCE Blue Prism