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BERLIN, Nov 21 (Reuters) - German data mining software firm
Celonis said on Thursday that it had raised $290 mln in a Series
C funding round, putting a $2.5 billion valuation on the company
that has been compared with enterprise application giant SAP
.
The funding round was led by Arena Holdings and investors
included Ryan Smith, the founder of customer experience
specialist Qualtrics that was bought by SAP for $8 billion a
year ago.
Celonis, based in Munich and New York, runs a cloud-based
service that uses artificial intelligence to mine data and
optimise business processes, serving customers including Siemens
, 3M, Airbus and Vodafone.
"We are in a market that shows enormous momentum," co-CEO
and co-founder Bastian Nominacher told Reuters, adding that
Celonis would invest the funds raised in its global sales and
customer service and in enhancing its cloud platform.
The funding round brings total investments into Celonis to
$370 million.
“Celonis is the clear market leader in a category with
open-ended potential. It has demonstrated an enviable record of
growth and value creation for its customers and partners,” said
Feroz Dewan, CEO of Arena Holdings.
The company, founded in 2011, does not publish financial
results but says it has been cash-flow positive every year since
and is growing at a triple-digit pace.
(Reporting by Douglas Busvine; editing by Thomas Seythal and
Susan Fenton)
Vodafone (VOD)
