Qatar Investment Authority recently led a $400 million series D extension round for tech company Celonis. Celonis built an execution management system that provides a full set of platform capabilities for business executives and users to eliminate billions in corporate inefficiencies, provide better customer experience and reduce carbon emissions.
The funding round added $1 billion in liquidity anchored by the $400 million equity raise at a post-money valuation of nearly $13 billion. In addition, Celonis expanded its revolving credit facility to obtain access to as much as $600 million with a syndicate of leading global banks.
Celonis currently has over 2,500 enterprise deployments worldwide. As per the news, the $1 billion of new funds will enhance Celonis’ already impressive capital position. Celonis will use these additional funds to invest in product innovation, drive adoption with Global 2000 customers, expand market potential with acquisition investments and deepen penetration with ecosystem partners.
The $400 million Series D extension led by the Qatar Investment Authority (QIA) also included new blue-chip investors Activant Capital, a fund advised by Neuberger Berman, Alta Park Capital and Commonfund Capital.
“Since the first days of Celonis, we have built a company that is operating on sound fundamentals, immutable customer value and the kind of resiliency that performs at the highest levels in any economic environment,” said Bastian Nominacher, co-CEO and co-founder of Celonis. “These fundamentals are what put Celonis in such a unique position to lean into the wind, while others are stepping back. With an additional $1 billion in liquidity, Celonis will have maximum flexibility to aggressively innovate, capitalize on new market opportunities and extend our market leadership.”
Mansoor Al-Mahmoud, CEO of Qatar Investment Authority, stated, “Celonis is well aligned with QIA’s strategic focus on innovative, best-in-class companies that are shaping the global economy of the future. Celonis is providing clear added value for its customers by enhancing their operational efficiency and driving their performance. QIA looks forward to a long-term and productive relationship.”
A 2021 benchmarking research report from Celonis illustrates many common process problems discovered by process mining. The research revealed the impact of these issues on average for a $5 billion enterprise company:
73% of invoices require manual intervention to process, amounting to $41 million in additional operating costs.
56% of customer orders require manual intervention to fulfill, amounting to $64 million in unnecessary expenditure.
54% of supplier deliveries are delayed, amounting to $396 million in costs.
1.5% of invoices are paid twice, amounting to an average $172 million in wasted capital.
These hidden process inefficiencies exist in literally every department, in every business, and in every industry. And due to the complexity and rigidity of the underlying ERP, SCM, and CRM systems, these problems are extremely difficult and sometimes impossible to find using traditional approaches.
In response to this problem, Celonis pioneered process mining and its execution management system to modernize process optimization. The Celonis system uses data, intelligence and automated actions to find and fix process problems hiding inside of enterprise systems
