- Process Mining and Process Excellence software Celonis announced it raised $290 million in Series C funding at a $2.5 billion valuation
Celonis — a market leader in AI-enhanced Process Mining and Process Excellence software — announced it raised about $290 million in Series C funding at a valuation of $2.5 billion. This round of funding was led by Arena Holdings alongside a group of principal investors and established entrepreneurs who have successfully scaled high-growth businesses, including Qualtrics CEO Ryan Smith and Procore Technologies founder and CEO Tooey Courtemanche.
Smith is going to serve as a special advisor to the company and work closely with Celonis board member and Hybris founder Carsten Thoma.
Some of the leading global enterprises, including 3M, Airbus, Danaher, L’Oréal, Lufthansa, Siemens, and Uber utilize Celonis to improve the efficiency of their finance, supply chain, IT, sales, and customer service functions.
“Process Mining performs an X-ray on every operational process, allowing companies to discover inefficiencies and clearly identify recommended actions to streamline processes, save money and improve customer experience,” said Alexander Rinke, co-founder and co-CEO of Celonis. “We are the best in the world at Process Mining and, just as importantly, we are now leading the way in Process Excellence, which is essential to every company’s ability to stay competitive.”
The Series C funding round brings Celonis’ total funding to about $370 million following a $27.5 million Series A round in June 2016 and a $50 million Series B round in June 2018 led by Accel and 83North.
And Celonis plans to use this funding round to strengthen its U.S. and global sales and marketing efforts as well as to expand the Celonis platform.
“Celonis is the clear market leader in a category with open-ended potential. It has demonstrated an enviable record of growth and value creation for its customers and partners,” added Feroz Dewan, CEO of Arena Holdings. “Celonis helps companies capitalize on two inexorable trends that cut across geography and industry: the use of data to enable faster, better decision-making and the desire for all businesses to operate at their full potential.”
Celonis drives business value by enabling companies to discover inefficiencies across a range of operational functions, act to improve business processes in real-time, and continually monitor them to ensure optimal performance. Plus Celonis has been cash-flow positive every year since it was founded in 2011 and continues to grow at a triple-digit pace.
Celonis utilizes customers’ multi-billion-dollar legacy IT investments by connecting seamlessly to their existing infrastructure and providing real-time control and visibility on process optimization opportunities.
For example, L’Oréal improved their order to cash efficiency rate by three times and are aiming even higher using Celonis. Lufthansa increased on-time flights for 8 million passengers. And Deutsche Telekom saved millions of euros improving processes in payments, purchase orders and deliveries.
“We are gratified by the endorsement from our partners and look forward to working with them as we position Celonis for long-term growth and profitability,” explained Bastian Nominacher, co-founder and co-CEO of Celonis. “Their support bolsters our efforts as we build a great and enduring company that has a measurable impact on the success of our customers.”
