The Series D financing round completed in June of last year worth 1 billion dollars made Celonis a decacorn. At that time, the Munich-based company was valued at more than 11 billion dollars. With the current expansion of this Series D round, the company valuation rises to just under 13 billion dollars. The financing of 1 billion dollars consists of an expansion of the round by 400 million dollars and a credit line of 600 million dollars with a consortium of global banks that can be drawn upon at any time, for example if acquisition opportunities arise.
The 400 million dollar investment is led by the Qatar Investment Authority (QIA) and also includes new investors such as Activant Capital, Neuberger Berman, Alta Park Capital and Commonfund Capital. Existing investors such as Arena Holdings, funds advised by T. Rowe Price Associates and their clients, Franklin Templeton, Durable Capital Partners LP, TCV, 83North, Accel Partners and Sator Grove have also participated in the expansion of the financing round, according to the company.
Expanding market position and broadening product portfolio
The five-year credit line of 500 million dollars is expandable to 600 million dollars. It can be used flexibly, for example to finance acquisitions. It is led by Keybanc Capital Markets, with Goldman Sachs, HSBC Ventures, J.P. Morgan, Morgan Stanley Senior Funding, Citibank and Deutsche Bank serving as “Joint Lead Arrangers”. The consortium also includes RBC Capital Markets, Silicon Valley Bank, SMBC, Citizens, MUFG and Bank of America.
With the expanded financing, Celonis wants to further strengthen its market position and strategically develop its product portfolio. Bastian Nominacher, co-founder and co-CEO of Celonis, says about the current capital expansion:
“We are delighted by the growing interest and confidence of our customers who are banking on Celonis, especially given the challenging economic environment. This enables us to achieve strong results independent of macroeconomic conditions and to continue growing rapidly. The strengthened capital position gives us additional flexibility to strategically develop the business and expand our market position.”
Alexander Rinke, co-founder and co-CEO of Celonis, adds:
“Celonis’ recipe for success is simple: with the help of Celonis, our customers can quickly improve their processes and achieve measurable added value. That’s why demand for our products has never been stronger than it is today. This is particularly true right now for optimizing strained supply chains and for simulations and measures to better respond to inflation and price fluctuations. We are determined to capitalize on the resulting growth opportunities and expand our platform so we can support customers in even more areas of their business.”
“A rare exception”
And Patrick Kratus, Managing Director, Head of Technology Investment & Corporate Banking at Keybanc Capital Markets, says:
“The credit facility is the largest of its kind to date and will give Celonis maximum flexibility to expand its business further and provide its customers with exceptional added value. Celonis is one of the rare exceptions in the technology industry whose value continues to rise even in a difficult economic market environment. That’s precisely when process improvements are more important than ever.”
