Celonis raises $27.5m series-A from Accel, 83North

The funding will be used to improve the company's operations and technology, and for further global expansion. The business claims its product can improve operational efficiency by 20-30%.

This marks the first round of external funding for Celonis, which the founders started straight after graduating. The investors said in a statement the business's fast growth and multinational customer base were incentives to back the round. Accel and 83North hope to improve the business's market position in the US.

In April, Accel held a first and final close for its Accel London V fund on its hard-cap of €500m.

Company
Founded in 2011 and based in Munich, Celonis offers process mining. Its analytics product aims to optimise IT-driven processes in large enterprises. Its customers includes Siemens, ABB, Bayer, RWE, Edeka, ING-DiBa, Schaeffler and Vodafone, among others.

People
83North – Laurel Bowden (partner).
Accel – Harry Nelis (partner).
Celonia – Alexander Rinke, (co-founder, co-CEO).

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