Software firm Celonis fetched $1 billion in its latest funding round to hit an $11-billion valuation, according to CNBC.
- Investors in the round include Durable Capital Partners, T. Rowe Price Associates, Franklin Templeton, and Splunk Ventures.
- The latest valuation is quadruple the $2.5 billion Celonis was valued at during a cash injection in 2019.
- Celonis appointed Carlos Kirjner as its new Chief Financial Officer ahead of its anticipated maiden offering. Kirjner previously served as Google’s Vice President of Finance.
- Celonis started as a college project in 2011 and has since grown into a firm with a workforce of over 1,300 across the globe.
- The firm is involved in “process mining” or streamlining processes through analyzing data from its clients’ event logs.
- Chief Executive Officer and Co-founder Alex Rinke said business is being driven by the rise of execution management, calling it the biggest shift in software since cloud computing.
- Celonis has reported triple-digit annual growth each year, with clients including Dell, L’Oreal, and Pfizer.
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