7.3 C
London
Friday, December 2, 2022

With a valuation of $13 billion, Celonis defies the current startup economy • londonbusinessblog.com

Must read

Amid GOP concerns, Herschel Walker’s campaign is calling for cash

Outsmarted financially as Democrats dominate the early vote, Herschel Walker's Georgia Senate campaign on Thursday begged donors to put up more money due to...

OpenAI’s ChatGPT Shows Why Implementation Is Key With Generative AI • londonbusinessblog.com

It's probably no secret to those who do a lot of focused work in space, but when it comes to generative AI, it quickly...

Elon Musk has been fluffed by Elon Musk

Programming Note: This is the last This Week in Elon this year. In 2023, I'll be back with something delightful for you guys...

BYD dominates EV market in Q3 2022 with 6 cars in top 10

BYD dominates EV market in Q3 2022 with 6 cars in top 10
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

When Celonis, an 11-year-old The German process mining company, which announced a $1 billion raise in August on a $13.2 billion hindsight valuation, was a bit of a shock. After all, VC firms were pulling back from the massive raises and ostentatious valuations of yesteryear.

But celonis – which has raised $2.4 billion, per crunch baseat $2 billion in the past year alone — has been able to defy current thinking in startup circles by taking on huge chunks of capital.

Recall that the valuation is up a whopping 420% since 2019, when it raised $290 million against a valuation of $2.5 billion. That was followed last year with $1 billion at a valuation of $11 billion, culminating in August’s valuation of $13 billion.

Part of the reason it’s such a valuable company is that it’s gradually forged partnerships with corporate giants like IBM and ServiceNow to sell its software, pushing Celonis into markets where even well-funded startups may be constrained by resource requirements. .

It has also been able to fill the platform with several strategic acquisitions (more on that later).

Why are customers, investors and partners so interested in Celonis?

Because, with the help of software, Celonis can dig into the way processes move through a business, looking at complex areas such as purchasing, paying bills and inventory and looking for inefficiencies and duplications that can ultimately lead to huge savings.

This is the kind of work expensive consultants usually do, camping out for months or years in companies and figuring out how the work flows through the organization, collecting fat checks to do it.

Having software that can replace those human efficiency experts, and in a fairly short period of time, is a huge advantage.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Amid GOP concerns, Herschel Walker’s campaign is calling for cash

Outsmarted financially as Democrats dominate the early vote, Herschel Walker's Georgia Senate campaign on Thursday begged donors to put up more money due to...

OpenAI’s ChatGPT Shows Why Implementation Is Key With Generative AI • londonbusinessblog.com

It's probably no secret to those who do a lot of focused work in space, but when it comes to generative AI, it quickly...

Elon Musk has been fluffed by Elon Musk

Programming Note: This is the last This Week in Elon this year. In 2023, I'll be back with something delightful for you guys...

BYD dominates EV market in Q3 2022 with 6 cars in top 10

BYD dominates EV market in Q3 2022 with 6 cars in top 10

Delay Announcement! Get Jun in trouble! Know the release date

First of all, unfortunately, fans will have to wait a bit longer to see how things will unfold in Do Jun's life in Reborn...