Celonis raises USD 290 million for AI-powered process mining

Monday 25 November 2019 10:41 CET | News

Germany-based intelligent business solution company Celonis has closed a USD 290 million series C round.

The funds are aimed to support its solution that uses AI-driven data and process mining to make companies more efficient. This round raised the company’s valuation to USD 2.5 billion. Today’s news follows a USD 50 million funding round in June 2018 that was led by Accel and 83North and raised Celonis’ valuation to USD 1 billion.

Celonis sits on top of existing enterprise IT systems from companies like SAP, Oracle, and Salesforce. It then analyzes processes and spots ways to improve efficiency and productivity. The service targets finance, supply chain, IT, sales, and customer service operations and is currently being used by companies like Airbus, 3M, Lufthansa, L’Oréal, Siemens, and Uber.

The funding will be used to grow Celonis’ sales and marketing operations, particularly in the US, and to expand the Celonis platform and automate more actions based on its recommendations. Expansion of the Celonis platform will first focus on finance, supply chain, and customer service, company representatives have stated.

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Keywords: Celonis, process mining, funding round, series C funding, United States, B2B payments, accounting, intelligent business solutions, SAP, Oracle, Salesforce, United States, Germany
Categories: Banking & Fintech
Countries: Germany
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Banking & Fintech

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