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It was a bit of a surprise when the company announced a $1 billion raise in August. The huge raises and gaudy valuations of the past were being pulled back.
Despite the current thinking in startup circles, Celonis has been able to take on huge chunks of capital.
It raised $290 million at a $2.5 billion valuation and has grown its valuation by 420%. The $1 billion at an $11 billion valuation was followed by the $13 billion valuation in August.
Along the way, it forged partnerships with corporate giants like IBM and ServiceNow to sell its software, helping push it into markets where even well-funded startups might be limited by the resources.
No code, workflow and RPA line up for their automation moment
The platform has been filled with several strategic acquisitions.
Customers, investors, and partners are interested in the same thing.
Because of the way processes move through a company, using software, can dig into the way processes move through a company, looking at complex areas like procurement, bill paying, and inventory and searching for inefficiencies that can add up to huge savings.
The kind of work that high-priced consultants tend to do is camping inside companies for months or years and figuring out how work flows through the organization while collecting fat checks to do it.
Software that can replace human efficiency experts is a huge advantage.
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