Celonis, the process mapping startup, has been doing well over the past few years, forming significant partnerships with IBM and ServiceNow, while announcing a $ 1 billion Series D in June at a massive $ 11 billion valuation.
With that kind of capitalization, the company decided to expand its reach today when it announced the acquisition of Process Analytics Factory (PAF) for $ 100 million. Celonis has acquired an eight -year -old German company with expertise in the Microsoft ecosystem mapping process, which should help Celonis move into that space.
Celonis CEO and co-founder Alexander Rinke said his company has played a big role in the automated workflow ecosystem, figuring out how work moves in an automated way to help point out inefficiencies and find ways to make the workflow smoother through the organization. He said that includes automation, collaboration and virtual platforms.
“Obviously, a big part of it is Microsoft with Microsoft Teams and Microsoft Office. So we got PAF to enable that and bring the unique insights and targeted actions that we provide to Microsoft users,” he said. by Rinke.
PAF founder and CEO Tobias Rother gave the familiar argument that the two companies would be better off together. “This combination leverages Celonis’ market leadership strength along with the foundation PAF has created on the Microsoft Power Platform. It enables our companies to build a bridge between the Microsoft Power Platform and the Celonis Execution Management System. , “he said in a statement.
PAF was launched in 2014 with the goal of embedding insights into the mining process on the Microsoft platform. “They had a great start in this space, and we thought that if we could bring this functionality to the world of Celonis, there would be huge benefits for their customers, our customers and prospects. And for everyone who uses it. of Microsoft, ”Rinke said.
As he points out, that’s pretty much everyone in his target market. In fact, 97% of the Fortune 500 use Microsoft Office.
The company has been on roll in recent years, building relationships with larger companies such as IBM, SAP and ServiceNow, while also building a large presence with consulting firms such as Deloitte, Accenture and WiPro, among many more. iba. All of this is driving sales and the massive appreciation.
It has also made some strategic acquisitions as of today. PAF represents the fourth acquisition for the company. Rinke said the deal closed at the end of last year, and they are in the process of developing PAF functionality on Celonis ’broader platform. The plan is to launch that in May. The deal includes 30 employees who will go to Celonis. The company should reach 3,000 employees later next year.
Celonis launched in 2011 and raised $ 1.4 billion, according to Crunchbase data. While the company has ambitions to be public at some point, Rinke isn’t ready to commit to any timeline.