UiPath, the popular robotic process automation (RPA) software provider, has announced that it’s submitted a confidential draft registration statement for a public offering to the US Securities and Exchange Commission (SEC), meaning that a public market debut for the company is near.

UiPath’s filing comes during a period that’s seen the public market debuts of a handful of technology companies as well as others whose public listings are imminent. A UiPath IPO would mark it as one of the biggest tech companies based in NYC to hit the public markets.

Earlier this year, UiPath raised a $225 million round that valued it at $10.2 billion post-money. For its imminent IPO, rumors have it that the company is targeting a valuation as high as over $20 billion.

When UiPath raised funding earlier this year, it said that its annual recurring revenue had grown from $100 million to $400 million over the past two years. With such stellar growth, the company may entice many investors to make bets on it and fare very well on the public markets.

A UiPath IPO would deliver exits for its many investors, including the well-known investment firms Accel, Tiger Global, G Squared, IVP, and Madrona Venture Group. The Chinese technology conglomerate Tencent is also a UiPath investor.

UiPath’s IPO would also mark a landmark win for the tech industry in Romania, the country where UiPath was founded and headquartered for a few years before it relocated to New York.

Photo: UiPath CEO Daniel Dines by TechCrunch is licensed under CC BY 2.0

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