INSUBCONTINENT EXCLUSIVE:
$290 million in a Series C round of funding, giving the startup a post-money valuation of $2.5 billion.Celonis was founded in 2011 in Munich
In fact, Celonis waited until it was nearly six years old to take its first outside funding (prior to this Series C it had picked up less
than $80 million, see here and here)
The size and timing of this latest equity injection is due to seizing the moment, and tapping networks of people to do so
with Alexander Rinke and Martin Klenk, said in an interview
Courtemanche, founder and CEO of Procore, also included, alongside previous investors 83North and Accel.Celonis said Smith will be a
special advisor, working alongside another strategic board member, Hybris founder Carsten Thoma
Dewan, meanwhile, used to run hedge funds for Tiger Global (among other roles) and currently sits on the board of directors of Kraft
situation, in the words of Rinke.Those insights, in turn, are used either by the company itself, or by consultants engaged by the
specific process, or use a different piece of software to crunch data better, or reconfigure how staff is deployed, and so on
This is not a one-off thing: the idea is continuous monitoring to pick up new patterns or problems.In recent times, the company has started
to expand the system into a wider set of use cases, by providing tools to monitor operations and customer experience, and to apply its
process mining engine to a wider set of company sizes beyond large enterprises, and by bringing in more AI to its basic
