Munich-based software unicorn Celonis continues to thrive: The startup closed the past fiscal year with triple-digit growth. This success is partly due to its revised business model.
Celonis achieved revenue of $100 million last year and doubled its workforce by more than 400 employees. The startup also reached a company valuation of $1 billion. Unicorn status.
“Clearing a $100M in sales bookings hurdle is a major milestone for any market leader offering emerging software,”
commented Maureen Fleming, Vice President of the Intelligent Process Automation Research Program at the market research institute IDC (International Data Corporation). She further adds:
"The combination of triple-digital growth and hitting this milestone is an indication of how many enterprises are investing in automation and the overall efficiency of their operations. And it also illustrates the importance of process mining to these efforts."
New business model at Software-Unicorn Celonis
The increasing sales figures are also due to the introduction of the intelligent business cloud solution last October. The SaaS platform is designed to enable companies to visualize and analyze their business processes using the process mining technology developed by Celonis.
"With the Celonis Intelligent Business Cloud, our customers are adding intelligent systems to their operational systems to drive their business transformation. With process mining technology now fully available in the cloud, companies can launch their transformation initiatives much faster and realize tremendous value from the significant productivity and efficiency gains."
says Alexander Rinke, Co-Managing Director of Celonis. With the new product offering, Celonis was able to more than double its customer base.
