A tech firm from the North of England is about to list on the London Stock Exchange
Blue Prism, founded in 2001, announced on Tuesday that it had raised £21.1 million ahead of a listing on the Alternative Investment Market (AIM).
The company's automation software, which it calls a software "robot," is used by the likes of The Co-operative Banking Group, the NHS and O2.
The company writes on its website that its technology "enables employees to focus on higher-value work while autonomous multi-skilled software robots tirelessly perform error-free rules based admin transactions."
Shares in the company are being listed at 78p each, according to business newspaper City A.M, which says the company will be valued at around £48.5 million following the listing of 27 million shares.
Alastair Bathgate, cofounder and CEO of Blue Prism, said in a statement on Tuesday: "Today's milestone follows a successful year for the company, and marks a shift in acceptance for software robots as a mainstream choice for the enterprise digital workforce.
"Software robots have been deployed successfully and strategically by large, blue chip organisations that have derived tremendous value from this new solution to the labor market, it's not science fiction."
The stock market listing will provide a small boost to the government's Tech North initiative, which was created last year to champion and accelerate the technology sector in the North of England. It has been funded with approximately £2 million of taxpayer's money.