"Higher, faster, further!" — that could roughly be the motto of the Munich-based startup Celonis. After expanding into the US and tripling revenue in a very short time, the founders are aiming for bigger things and are planning an IPO.
The Munich-based startup Celonis impressively demonstrates how to handle an investment. However, convincing potential investors to provide financing was initially a major hurdle for the company, founded in 2011. Initially, they had no choice but to stay afloat through bootstrapping. startup scene Co-founder Alexander Rinke reviews the bumpy initial phase:
"Back then, many people didn't believe in the founding team. They said we lacked (...) experience within the team."
That this assessment was incorrect would turn out to be a few years later, as Celonis is now has matured into a true Munich success story.
“We want to go public!”
A little over a year ago, the deserved investment, which was used for expansion into the US to expand the market and grow diligently. A whopping $27.5 million was spent at the time. Big names like Accel and Greylock backed the money. And they wouldn't regret it: Since the investment, Celonis has tripled its revenue to around €20 million. A quarter of this comes from US customers.
Now the successful Munich entrepreneurs are planning the next big step, as they told startup scene betrayed:
“We want to go public in the next few years!”
When and how exactly has not yet been determined, but the founders are aiming for 2020.
