Process Mining Software Celonis Closes $50 Million in Series B

Celonis raised $50 million in Series B funding from existing investors Accel and 83North, which values the company at $1 billion.

Founded in 2011, Celonis has been a profitable process mining technology company every year since its inception, and has outpaced its growth targets since its $27.5 million Series A funding in 2016. According to the company, it has grown 5,000% in the past four years, and 300% in the past year. Since opening its office in New York in 2016, it has added blue chip customers Merck, Lockheed Martin, ExxonMobil, and Uber to its roster. The U.S. is the fastest-growing region for Celonis, and it is on target to exceed 50% of its total revenue.