Munich-based big data company Celonis has raised $27.5 million in a Series A round led by Accel and 83North (formerly Greylock IL) to push its global expansion.
The company specialises in a big data analytics concept called Process Mining, aimed at providing more transparency in how a company operates through real-time analytics of end-to-end processes. It currently has 200 customers in 15 different industries, clients include KPMG, Deloitte, and Siemens and it signed a global reseller agreement last year with SAP.
“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,” said Celonis co-CEO, Alexander Rinke.
“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.”
The large round of funding will be used to improve its go-to-market strategy and build its global expansion strategy.
“The funding will gives us the resources to make our process mining technology globally available - strengthening our go-to-market and service operations in all key markets,” Bastian Nominacher, co-CEO of Celonis told tech.eu. “Additionally, we will strongly invest in our technology platform to even enhance the value customers can generate by our process mining technology.”
According to Harry Nelis, partner at Accel, the US market is the next key stage for the company’s growth.
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