The Munich-based process mining company Celonis has closed a Series C financing round of $290 million (approximately €260 million). The company, founded in 2011, is now valued at $2.5 billion (approximately €2.3 billion).
The data specialists' financing round is led by Arena Holdings. Entrepreneurs Ryan Smith, co-founder and CEO of Qualtrics, and Tooey Courtemanche, founder and CEO of Procore, are also joining Celonis. The Munich-based company plans to invest the capital in sales and technical development.
Celonis claims to be the market leader in AI-powered process mining software. Its customers include 3M, Airbus, Danaher, L'Oréal, Lufthansa, Siemens, and Uber. The company has been profitable every year since its founding in 2011.
"Celonis is the clear market leader in a category with enormous potential. And it is characterized by impressive growth and immense value creation for its customers and partners,"
says Feroz Dewan, CEO of Arena Holdings.
"Celonis helps companies benefit from two market-defining trends that span both regions and industries: the use of data to enable faster, better decisions and the desire of all companies to realize their full potential."
“Align Celonis for long-term growth and profitability”
The total investment in Celonis is now $370 million. In June 2016, the Munich-based company concluded a Series A financing in the amount of 27.5 million dollars, two years later a Series B financing in the amount of $50 million. Both rounds were led by Facebook investors Accel and 83North, who are also participating in the current financing. Since the Series B round almost a year and a half ago, the Munich-based company has been able to call itself a 'unicorn,' meaning it is valued at more than a billion dollars.
“We are positioning Celonis for long-term growth and profitability, so we are grateful for the trust of our partners and look forward to working together,”
says Bastian Nominacher, Co-founder and Co-CEO of Celonis.
“The expertise of our new partners supports us in our efforts to build a globally successful and sustainable company that has a measurable impact on the success of our customers.”
