Celonis, a Munich and New York-based provider of AI-enhanced Process Mining and Process Excellence software, raised approximately $290m in Series C funding.
The round, which brings total funding to approximately $370m and valued the company at $2.5 billion, was led by Arena Holdings with participation from Accel, 83North, as well as:
– Ryan Smith, co-founder and CEO of Qualtrics, as well as
– Tooey Courtemanche, founder and CEO of Procore.
Smith will serve as a special advisor to the company and work closely with Celonis board member and Hybris founder, Carsten Thoma.
The company plans to use the new capital to strengthen its U.S. and global sales and marketing efforts as well as to expand the platform.
Led by Alexander Rinke, co-founder and co-CEO, and Bastian Nominacher, co-founder and co-CEO, Celonis provides the Intelligent Business Cloud, which enables companies to discover inefficiencies across a range of operational functions, act to improve businesses processes in real time and continually monitor them to ensure optimal performance. Leading global enterprises including 3M, Airbus, Danaher, L’Oréal, Lufthansa, Siemens, and Uber use Celonis to improve the efficiency of their finance, supply chain, IT, sales, and customer service functions.