Celonis co-founders Bastian Nominacher, Alexander Rinke and Martin Klenk.Celonis
LONDON — Enterprise software firm Celonis on Wednesday said it had raised $1 billion in a new round of funding, valuing the company at an eye-watering $11 billion.
The new investment was co-led by Durable Capital Partners and T. Rowe Price Associates, with Franklin Templeton and Splunk Ventures also participating. Celonis is now worth more than four times the $2.5 billion it was last privately valued at in a 2019 cash injection.
Founded in 2011 by three friends in Munich, Germany, Celonis began life as a college project for consulting businesses on improving their IT processes.
The firm pioneered a technology called “process mining,” which analyzes data from a company’s event logs to identify problems with certain processes and figure out ways to streamline them.
“As companies grow, inefficiency creeps in and business execution becomes a struggle,” Alex Rinke, co-CEO and co-founder of Celonis, said in a statement. “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
