Celonis- Success Story of a Process Mining Company
A cloud computing business called Celonis was established in Munich, Germany. Celonis is an American -German data processing company that offers software as a service (SaaS) to improve business processes. The headquarters of Celonis are in Munich and New York. Celonis was founded in 2011 by Alex Rinki, Bastian Nominacher, and Martin Klenk. They were three friends who met each other while studying at the Technical University of Munich and thus began the formation of Celonis. Celonis has grown to become one of the leading process mining providers in the world, with offices in Munich, Germany, and New York, United States of America.
Celonis Process Mining, the company’s flagship product, uses machine learning and artificial intelligence to analyze data from various systems and give insights into business processes. This allows the organizations to identify areas for improvement and inefficiencies and thus make data-driven decisions to optimize their operations.
So what is the story behind Celonis? The story of Celonis began in 2011, when its three founders, Mark Geene, Bastian Nominacher, and Alexander Rinke, realized there was a significant need for mining processing software. They saw that many organizations were struggling to optimize their operations, and they believed that their technology could help. They quickly developed a prototype and began to pitch their ideas to potential customers.
Finally, in 2012, their hard work and persistence paid off as Celonis secured its first customers and the company began to grow rapidly; by 2013, it had already expanded to the United States. In the year 2014, Celonis was able to raise $27.5 million in a Series A funding round, which helped to further accelerate growth.
Celonis software quickly gained popularity worldwide among global companies across various industries, such as finance, retail, manufacturing, and healthcare. Celonis has a wide range of customers with brand names like Siemens, Heineken, Vodafone, and Lufthansa. Celonis software is highly praised for its ability to provide actionable insights that can improve business processes and increase efficiency.
Celonis Funding and Investors
Celonis raised $27.5 million in Series A fundraising in June 2016, with 83North and Accell as the lead investors. Further, $50 million in Series B capital worth $1 billion was given to Celonis in June 2018. Accel and 83North took the lead in the investment round. At an evaluation of $2.5 billion, Celonis secured a $290 million Series C fundraising round in November 2019. In 2020, Celonis was valued at $2.5 billion, making it one of the most valuable software companies in the world.
Acquisitions made by Celonis
In April 2019, Celonis bought the Belgian software company Banyas for an undisclosed price, and later on, Banyas’ technology was integrated into the Celonis platform to enable real-time connectivity to SAP.
A year after the acquisition of Banyas Technology, in October 2020, Celonis acquired Czech software startup Integromat.com for over $100 million USD. Integromat, which is now known as Make, sells an integration platform (iPaaS).
In October 2021, Celonis acquired a London/Athens-based software company with over 100 employees, Lenses.io, which is known as the “real-time streaming data tool.”
Celonis’ success can be attributed to its innovative technology, strong customer base, and ability to scale its service globally. Celonis’s software has been praised by customers and industry experts alike, and the company has won numerous awards, including the Deloitte Technology Fast 50, the Forbes Cloud 100, and the Gartner Cool Vendor award.
Celonis’ success story serves as an inspiration for other startups and entrepreneurs. The founders of the business started out with a clear vision, a workable business plan, and the will to see it through. They did not allow the initial challenges and the roadblocks to discourage or demotivate them, as they kept pushing forward in spite of their difficulties. Their hard work and persistence paid off, and they were able to build a successful and highly valued business.
Celonis’ success story is a testament to the power of innovative technology and a relentless focus on customer success. The company has grown from a small startup to a global leader in process mining software, and it further continues to break new ground and drive digital transformation for its customers. Celonis serves as a reminder that with the right approach and a commitment to excellence, even the most ambitious goals can be achieved.