New York-based Celonis announced Thursday that it raised $1 billion in a Series D round. The massive raise was co-led by Durable Capital Partners LP and T. Rowe Price Associates. The decacorn’s valuation now tops an astounding $11 billion.
The huge investment is a vote of confidence from investors who’ve had their eye on the company’s exceedingly high rates of growth. Celonis is growing by triple digits year over year, according to the company.
Six months ago, Celonis launched a new product that provides companies with a way to run their business processes based on data and intelligence. The execution management system (EMS) integrates with a company’s existing operational systems to identify workflow inefficiencies across departments.
“As companies grow, inefficiency creeps in and business execution becomes a struggle. Employees feel it, customers feel it, and it leads to significant financial losses and environmental impact,” Alex Rinke, co-CEO and co-founder of Celonis, said in a statement. “We are thrilled and honored that the rise of execution management is defining a new software stack that helps customers reimagine how they execute. It is the biggest shift in software since cloud computing.”
The 1,300-person company will continue to expand following the latest investment. Celonis is now hiring for dozens of open tech positions spanning multiple departments.
In addition to the raise Celonis announced the arrival of Carlos Kirjner. Kirjner will join the team as the company’s new chief financial officer. He previously led finance at Google for its flagship advertising business.
Celonis has raised $1.4 billion in venture capital financing to date, according to Crunchbase.
Additional investors Franklin Templeton and Splunk Ventures participated in the round, among others.