Arena et al. back €260m series-C for Celonis

The series-C round valued Celonis at €2.25bn. Celonis will use the fresh capital to expand internationally and build on its software platform.

Existing investors Accel and 83North also participated in the round, along with business angels including Ryan Smith (co-founder and CEO of Qualtrics) and Tooey Courtemanche (founder and CEO of Procore).

This round is the sixth largest in Germany this year, according to Unquote Data. The first large round of the year was the $300m series-D for Berlin-based bank N26.

Previous funding
In June 2018, Accel and 83North led a $50m series-B round for Celonis. Prior to this, the same VCs backed a $27.5m series-A in July 2016.

Company
Celonis is a German software company that uses process mining technology to make businesses more efficient. The software aims to improve companies' finances, supply chain, IT, sales, and customer service. Its client base includes L'Oréal, Lufthansa and Deutsche Telekom.

The company has made a profit each year since its foundation in 2011. It has 726 employees, according to LinkedIn.

People
Celonis – Alexander Rinke (co-founder, CEO).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Germany