Celonis, a New York- and Munich, Germany-based enterprise software company, raised $50m in Series B funding.
The round valued the company at $1 billion. Backers included existing investors Accel and 83North.
The company intends to use the funds to accelerate hiring and expansion plans throughout the world, increase its R&D investments in product development and accelerate the product roadmap.
Founded in 2011, Celonis offers an Intelligent Business System based on process mining technology that enables organizations to rapidly understand and improve operational process flows for business transformation. The Celonis Intelligent Business System provides visibility into existing process flows, a detailed analysis of process metrics, and an intelligent framework for process improvements.
Companies around the world including Siemens, GM, 3M, Bayer, Airbus, Vodafone, Merck, Lockheed Martin, ExxonMobil and Uber, use Celonis technology to create new, automated business processes while improving the customer experience.