Celonis co-founders Bastian Nominacher, Alexander Rinke and Martin Klenk.
Celonis
LONDON — Enterprise software program agency Celonis on Wednesday stated it had raised $1 billion in a brand new spherical of funding, valuing the corporate at an eye-watering $11 billion.
The new funding was co-led by Durable Capital Partners and T. Rowe Price Associates, with Franklin Templeton and Splunk Ventures additionally taking part. Celonis is now price greater than 4 occasions the $2.5 billion it was final privately valued at in a 2019 cash injection.
Founded in 2011 by three buddies in Munich, Germany, Celonis began life as a college project for consulting companies on bettering their IT processes.
The agency pioneered a expertise referred to as “process mining,” which analyzes information from an organization’s occasion logs to establish issues with sure processes and determine methods to streamline them.
“As companies grow, inefficiency creeps in and business execution becomes a struggle,” Alex Rinke, co-CEO and co-founder of Celonis, stated in an announcement. “Employees feel it, customers feel it, and it leads to significant financial losses and environmental impact.”
“We are thrilled and honored that the rise of execution management is defining a new software stack that helps customers reimagine how they execute,” he added. “It is the biggest shift in software since cloud computing.”
The firm says it is rising by triple digits annually, boasting a clientele that includes the likes of Dell, L’Oreal and Pfizer. The New York and Munich-headquartered agency now has greater than 1,300 staff globally.
In addition to saying an enormous funding deal, Celonis stated it had appointed Carlos Kirjner, previously vp of finance at Google, as its new chief monetary officer forward of an anticipated preliminary public providing.
It’s the newest signal of how buyers are gushing over enterprise software program companies with recurring income streams and comes at a time when the coronavirus pandemic has accelerated a digital shift for companies of all sizes and styles.
A slew of software program corporations have gone public within the U.S. over the previous 12 months. Romanian-founded agency UiPath went public in a blockbuster debut on the New York Stock Exchange in April, whereas cloud firm Snowflake listed last September.
