Warrington robotics firm Blue Prism raises £100m

Warrington-based robotic process automation (RPA) software firm Blue Prism said on Thursday it raised £100 million in a share placing as it revealed its revenue rose 125% to £55.2 million in the year to October 31, 2018.

Reported operating loss after share-based payments and foreign exchange movements was £26 million.

“The placing shares, when issued, will represent approximately 11.9 per cent. of the company’s enlarged issued share capital,” said Blue Prism.

“The placing price represents a discount of approximately 5.2 per cent. to the closing mid-market share price of 1,160 pence per ordinary share on 23 January 2019, being the latest practicable date prior to the publication of this announcement.”

Blue Prism CEO Alastair Bathgate said: “I am delighted with the significant growth we have achieved in our 2018 financial year.

“We have continued to build a high quality, software licence revenue-base which provides a solid platform for future growth.

“I am particularly pleased that our loyal customers continue to expand their licence footprint in strategic ways that add enormous value to their business, continually proving that Blue Prism, alongside our valued partners, genuinely scales.

“The RPA market is in a period of rapid growth and competition is increasing accordingly.

“The £100.0m placing announced today is planned to accelerate our growth and position us to seize this market opportunity.”