Celonis, a global execution management firm, has today announced a $1bn Series D round, increasing its post-money valuation to more than $11bn.
In addition, Carlos Kirjner, a technology industry veteran and former top-ranked Wall Street analyst, joined as Chief Financial Officer from Google, where he led finance for its flagship advertising business and key product areas.
This round comes just six months after Celonis launched its groundbreaking new product, the Execution Management System (EMS), which provides companies a modern way to run their business processes entirely on data and intelligence.
The new Celonis EMS addresses the fundamental limitations of running business processes across a complex set of aging and fragmented transaction systems, devices and edge applications, and triggered the creation of the execution management industry.
New Celonis investors Durable Capital Partners LP and T. Rowe Price Associates co-led the round, with participation from Franklin Templeton, Splunk Ventures and a group of principal investors. Also joining the round were existing investors including Arena Holdings.
“Celonis uniquely sits at the center of one of the biggest technology trends of our time — modernizing businesses with data-driven and intelligent execution,” said Henry Ellenbogen, the Managing Partner and Chief Investment Officer of Durable Capital Partners. “Celonis is a rare gem that has a massive market potential to create a new and modern way to run your business.”
“As companies grow, inefficiency creeps in and business execution becomes a struggle. Employees feel it, customers feel it, and it leads to significant financial losses and environmental impact,” said Alex Rinke, co-CEO and co-founder of Celonis. “We are thrilled and honored that the rise of execution management is defining a new software stack that helps customers reimagine how they execute. It is the biggest shift in software since cloud computing.”
“Business execution is what sets the leaders apart from the laggards,” said Carsten Thoma, co-founder of Hybris and Celonis board member. “No transformation can happen without fixing the processes that drive day-to-day execution. That’s why Celonis is in such a unique position to lead the execution management category.”
Celonis pioneered the process mining category 10 years ago when it first developed the ability to automatically X-ray process problems. Today Celonis is leveraging this foundation to pioneer the execution management industry and change business processes. Celonis is growing by triple digits year-over-year. Thousands of organisations have adopted Celonis including Fortune 500 companies such as Danaher, Dell, Kimberly-Clark, L’Oréal, and Pfizer. Celonis has more than 1,300 global employees and is headquartered in New York and Munich.