TUM spinout Celonis has grown to Germany’s first decacorn, three years after becoming the university’s first unicorn.
Celonis, a Germany-based business process analytics software spinout of Technical University of Munich (TUM), has raised $1bn in a series D round co-led by Durable Capital Partners and funds and accounts advised by T Rowe Price Associates.
Franklin Templeton, Splunk Ventures and assorted private investors also joined the round, as did several existing investors of which only Arena Holdings was identified. The round valued Celonis at $11bn post-money, reportedly making it Germany’s first decacorn.
Founded in 2011, Celonis has created an execution management system that allows companies to run business processes across fragmented technologies, devices and applications. It has attracted thousands of clients to date, including multiple Fortune 500 companies.
In conjunction with the series D round, Celonis appointed Carlos Kirjner as chief financial officer. Kirjner was previously vice-president and chief finance officer for ads, sales, search and maps at internet technology producer Google.
Celonis has now raised nearly $1.37bn in funding altogether. The spinout fetched a $2.5bn valuation when it raised $290m in a series C round led by Arena Holdings, with participation from 83North, Accel and private investors in November 2019.
It became TUM’s first unicorn when it closed a $50m series B round backed by Accel and 83North in June 2018. The same two investors had already co-led a $27.5m series A round in June 2016.