Reuters Robotic process automation startup UiPath on Friday disclosed its filing for an initial public offering IPO in New York, weeks after it raised fresh capital from investors at a valuation of 35 billion.

UiPath said it is aiming to raise 1 billion in the IPO. The company, however, did not reveal the number of shares it plans to offer or the price range, indicating that the figure is a placeholder amount.

In a regulatory filing, the New Yorkbased company revealed its total revenue jumped 81 in the year ended Jan. 31, 2021 to 607.6 million, while net losses narrowed significantly to 92.4 million from 519.9 million a year earlier.

UiPath, which joins hundreds of other companies that are seeking to tap into the redhot U.S. IPO market, had considered going public through a direct listing, but ultimately opted for a traditional stock market flotation, people familiar with the matter said.

The company, founded in 2005 in Romania by former Microsoft executive Daniel Dines and Marius Tirca, competes with the likes of Automation Anywhere and United Kingdombased Blue Prism.

UiPath helps automate repetitive and routine tasks in areas such as accounting and human resources, key focus for global companies looking to simplify operations and cut costs during the pandemic.

In February, the company raised 750 million in a funding round that valued it at 35 billion, more than three times its valuation in an investment round last July.

Investors in the latest round included…