Since it's launch in 2011, the company has raised over $2 billion. Its most recent investment, a $1 billion raise in August, was on a post-money valuation of over $12 billion.
The company uses software for process mining, figuring out how work flows through a business, and finding ways to make it more efficient. It has documented one process at a time.
At the company's annual customer conference, it introduced a new product called Process Sphere that shifts the product from a single process to more complex cross- departments.
The new approach makes the whole process mining experience much more powerful according to Alex Rinke, CEO and co- founder of the company.
The image is titled "CELonis."
Whatever the process is, we always discuss audits, invoices or procurement. We wondered how we could take it to the next level. We built a new processing technology that is revolutionary and allows you to look at multiple processes at the same time, because you have a lot of friction at the interface between your sales process and your shipping process.
It looks like a subway map, but instead of showing switch stations, it shows points in a process where it crosses over into a second or third process.
We call it a subway map, and each process looks like a subway line, and you can zoom in and out and just look at the lines on the map. He said that they put a lot of work into making it easy to understand.
He said, "It enables a lot of use cases, whether that is in commerce, whether it is in supply chain, whether it is in financial operations, because you can understand what is happening in an entire business at the intersection of multiple business processes."
With a $13B valuation, Celonis defies current startup economics
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