Celonis, a tech startup founded 8 years ago by three college friends, is now worth $2.5 billion
Every startup starts with an idea, a mission and a vision. Most successful startup founders are motivated by creativity and the drive to solve problems or make lives better by developing product or service that could help improve people’s lives. They are great listeners and pay attention to the need and problem around them. That’s the story behind Celonis, a Munich, Germany-based startup that was founded in 2011 by three college friends, Alexander Rinke, Bastian Nominacher, and Martin Klenk, when they were students at the Technical University of Munich. Celonis has been cash flow positive every year since it was founded in 2011 and continues to grow at a triple-digit pace.
Celonis helps organizations optimize their business operations, by using what it calls “process mining” software to find flaws, for example, bottlenecks in supply chains, and eliminating them. Just to give you a glimpse of how big the digital transformation market is, enterprises around the world spend more than $1 trillion annually to integrate digital technology into all areas of a business operations and business processes. As Celonis co-CEO Rinke describes it, “Celonis acts like an MRI for businesses that instantly shows how processes are running and prescribes recommendations for improvements to make processes more efficient, more compliant, and more effective.” Celonis’ process mining technology can accomplish what normally takes consultants weeks or months to finish. Celonis has disrupted the traditional approach to business transformation, which has been a manual, time-consuming, expensive, consultant-driven approach to process optimization.
Today, Celonis announced it has raised approximately $290 million in Series C funding to strengthen its U.S. and global sales and marketing efforts as well as to expand the platform. The round, which was led by Arena Holdings with participation from Accel, 83North, and others, now values the startup at $2.5 billion. To date, the startup has raised a total of $370 million in funding. Founded in 2011 by Alexander Rinke, Bastian Nominacher, and Martin Klenk, Celonis designs an intelligent big data technology that analyze and visualizes every process in a company.
Founded in 2011, Celonis is a New York- and Munich-based leader in enterprise performance acceleration software, turning process insights into action with the process mining technology it pioneered. Its Intelligent Business Cloud allows organizations to rapidly understand and improve the operational backbone of their business.
