Big Data Analytics Tech Company Celonis Raises $27.5M in Funding
Summary
Celonis, a Munich, Germany-based provider of a big data analytics technology, raised $27.5m in Series A funding.The round was led by Accel and 83North (formerly Greylock IL).The company intends to use the funds to accelerate go-to-market operations, improve technology, and further global expansion.Founded in 2011 by three former students of the Technical University of Munich, Alexander Rinke, Bastian Nominacher, and Martin Klenk, Celonis provides a “Process Mining” big data technology platform that automatically analyzes enterprise event data to provide insight into how a company’s business processes are being executed, uncovering cost-drivers and hidden weak spots to allow users to focus on implementing measures to increase their operational efficiency and bottom line.The technology is already in use by over 200 customers across 15 different industries including global Fortune 500 companies such as Siemens, KPMG, Deloitte, Bayer, Vodafone, as well as a wide range of medium-sized companies.
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