CELONIS NEWS & PRESS.
Today Celonis, the leading provider of a new category of big data analytics technology dubbed Process Mining, announces a $27.5 million Series A investment led by Accel and 83North (formerly Greylock IL). Celonis will use the funds to accelerate the global adoption of its solution, which aims to help organisations of all sizes improve their operational efficiency by 20-30%.
Over the years, the complex world of enterprise processes has become more and more difficult to navigate, and the efficiency of many companies’ key business processes has suffered as a result. Because of this, crucial process weak spots can easily be missed, ultimately at significant cost to a business.
Celonis’ Process Mining big data technology automatically analyses enterprise event data to bring end-to-end transparency and efficiency to these business-critical processes. The technology provides full insight into how a company’s business processes are being executed, uncovering cost-drivers and hidden weak spots. Delivering these insights in real time means that companies no longer lose time searching for root causes, and can instead focus on implementing measures to increase their operational efficiency and bottom line. The technology can be easily implemented for any digitized processes, and is already in use by over 200 customers across 15 different industries.
Celonis was founded in 2011 by three former students of the Technical University of Munich, Alexander Rinke, Bastian Nominacher, and Martin Klenk, and was bootstrapped through strong customer demand. The company’s clients span 25 countries and include global Fortune 500 companies such as Siemens, KPMG, Deloitte, Bayer, Vodafone, as well as a wide range of medium-sized companies.
“Everything about Celonis thrilled us,” said Laurel Bowden, Partner at 83North. “Celonis offers an outstanding product that finally delivers a ‘true and holistic view’ of how organizations create value. By that it goes way beyond what traditional analytics could ever accomplish. Its benefits are clearly and quickly understood by customers and can be easily translated into business and bottom line benefits. The market is enormous. All enterprises, large and small, could use Celonis. We are just at the beginning of seeing process mining use-cases.”
Harry Nelis, Partner at Accel, said: “We are excited to partner with the Celonis team and to help them achieve their mission of taking the Process Mining category worldwide. Alex, Bastian and Martin have built a high-growth and profitable company straight out of university, and already serve a long list of large multinational customers, all without raising any external funding to date. We look forward to helping them reach their next stage of growth, particularly in the US market.”
In 2015, Celonis signed a global reseller agreement with SAP, for whom Process Mining has played a pivotal role alongside its new in-memory database, SAP HANA. Later in the year, Celonis was named Germany’s fastest-growing technology company in the Deloitte Fast50 Awards, following a four-year revenue growth of 3,951%.
“With Accel and 83North, we’re honoured to have two partners on our side who are experienced with tech companies and the challenges of scaling globally,” said Alexander Rinke, Co-Founder and Co-CEO of Celonis. “Not only will this funding give us more flexibility to plan and execute our growth strategy, but both investors can support us with valuable practical experience, infrastructure and strategically-important contacts.”
The funding will be mainly used to boost go-to-market operations, improve technology, and further global expansion. Rinke, who was recently listed in Forbes’ 30-under-30 list, added: “Our goal is to create a new category in the analytics space and bring Process Mining technology to customers all over the world. The partnership with Accel and 83North is a crucial milestone in our journey.”
Celonis and its customer, Siemens, have won a SAP HANA Innovation Award 2016. The companies’ joint project received the “honorable mention” in the “Process Simplifier” category. The award, given to pioneering solutions based on SAP HANA, was awarded on May 16 at the opening ceremonies of SAPPHIRE NOW in Orlando, Florida. Overall, more than 100 companies from around the globe and working in a wide range of sectors submitted their projects for consideration. Celonis and Siemens impressed the jury made up of customers, SAP expert, and analysts with the project’s particular combination of innovation and successful implementation.
Siemens’ global IT infrastructure includes more than 70 SAP ERP systems and is supported by one of the largest SAP HANA installations in the world. Siemens combines the strengths of SAP’s in-memory platform with Celonis Process Mining to obtain full insight into how processes actually run in the real world. “As part of the digital revolution, lean processes provide a major competitive advantage. Thanks to Celonis’ Process Mining Solution, we are able to achieve increasingly complete transparency in the process sequences, identify complexities and specifically optimize business processes,” explains Dr. Lars Reinkemeyer, Head of Global Process Mining Services at Siemens IT. The Process Mining Community at Siemens has quickly grown to include more than 1,000 users. The solution is used globally in order to increase transparency and efficiency, for example in purchasing and sales, supply chain management and financial processes.
SAP has been distributing Celonis’ process mining technology since last year as part of a global partnership. Celonis is also a member of the SAP Startup Focus Program, which has supported start-ups in the development of new applications for the SAP HANA platform since 2012. Celonis was already awarded the SAP HANA Innovation Award at SAPPHIRE NOW 2015 in the “Most Transformative” category. “We are very pleased that we can accept this outstanding award for the second time,” says Bastian Nominacher, Co-CEO and co-founder of Celonis. “This clearly demonstrates the enormous potential our process mining technology offers large companies.”
Celonis today announced that SAP (NYSE: SAP) has recognized it as a finalist for an SAP® Pinnacle Award in the Application Innovation category. The annual SAP Pinnacle Awards acknowledge the contributions of leading SAP partners that have excelled in developing and growing their partnership with SAP and helping customers meet their goals. Finalists in 19 categories were chosen based on recommendations from the SAP field, customer feedback and performance indicators in the following umbrella categories: Build, Service, and Sell with each category including a Customers’ Choice award, which recognizes a customer-nominated SAP partner.
“We are very happy to be named a finalist for the SAP Pinnacle Awards. This shows that SAP and the entire ecosystem of customers and partners put their trust into our cooperation and Big Data technology”, says Bastian Nominacher, co-CEO of Celonis. “Our vision is to enable all companies worldwide to analyze their process data in order to increase their competitiveness – and the partnership with SAP is helping us enormously to achieve this goal. Since last year, SAP resells Celonis’ process mining technology based on SAP HANA® as the SAP® Process Mining by Celonis solution as part of a global reseller partnership. Thus, customers gain better access and benefit from our cooperation in the support and development of our technology.”
Thanks to Celonis, businesses can reconstruct, visualize and analyze their processes as they are executed in reality. It provides an all-time insight into the added value of businesses and enables them to detect and eliminate deviations from the standard, inefficiencies and bottlenecks. This way, businesses can optimize and drive efficiency of their processes by 20 to 30 percent.
Being one of the finalists, Celonis continues its success story. Last year, the team won the SAP HANA Innovation Award 2015 in the Most Transformative category. With the SAP Pinnacle Awards, SAP shines a spotlight on its most distinguished partners that have demonstrated their commitment to teaming with SAP to help mutual customers run simply.
Celonis, provider of the revolutionary process mining technology, is this year‘s winner of the Innovation Prize in the category “Smart Data”. The innovative content, benefits and suitability for SMEs of Celonis Process Mining (CPM) convinced the independent jury of professors, IT industry experts, academics and journalists. With the award, the Initiative “Mittelstand” annually honours particularly innovative products and IT solutions for the SME sector. The award ceremony took place at CeBIT on 14/03/2016.
The Celonis technology brings an unprecedented level of transparency to all business processes and helps to eliminate unwanted deviations from the standard process, inefficiencies and bottlenecks. With CPM companies can fully analyse their complex processes and optimize building on this. The software accesses all data from the IT systems of a company to merge process tracks, evaluate processes and visualize them – all in real time. The result: more transparency, more efficiency and more quality.
So far, CPM was only available as an enterprise solution. Recently Celonis has started to offer single user licenses, thus making Process Mining more accessible for medium-sized companies as well. “We are very proud of this award – it shows that our technology is not only suitable for large companies, but also provides great value for SMEs and that we are on the right track with the offers of our product which we have made available,” says Bastian Nominacher, CEO and co-founder of Celonis. “The IT Innovation Award is an acknowledgment of the great work of the entire team and an incentive to continue to think innovatively and practically.”
With this award, Celonis continues its success story. In January 2016 the company had already been recognized by Deloitte as the fastest growing technology companies in Germany – with a growth rate of 3951 percent over the last four fiscal years. Last year Celonis received the “Presidential Entrepreneurship Award” at the TU Munich for its innovative business idea and its strong growth, as well as the SAP HANA Innovation Award 2015 in the category “Most Transformative”.
Celonis will present the benefits of its Process Mining technology in the partner area of the “SAP Digital Core” at booth C04 in hall 4. Representatives from all industries are invited to learn more about how the game-changing Big Data solution creates full transparency in business processes. A dedicated team of data scientist will provide individual on-site consulting and a live calculation of the potential savings possible with Process Mining.