Celonis, a process mapping startup, has grown rapidly in recent years, forming significant partnerships with IBM and Service Now since it announced a $1 billion Series D last June with a huge $11 billion valuation. ,
With this capitalization, the company today decided to expand its presence by announcing the acquisition of Process Analytics Factory (PAF) for $100 million. Celonis found that the eight-year-old German company that specializes in mapping the Microsoft ecosystem needed to help Celonis get where it is.
Celonis CEO and co-founder Alexander Rinke said his company has played a big role in the automated workflow ecosystem by monitoring how workflows are performed in an automated way to pinpoint inefficiencies and actions taken by the organization and look for ways to make things easier. He says this includes automation, collaboration and virtual platforms.
“Obviously most of that is Microsoft with Microsoft Teams and Microsoft Office. That’s why we purchased PAF to enable it and provide Microsoft users with unique insights and targeted actions,” said Rink.
PAF founder and CEO Tobias Rother famously argued that the two companies would be better off working together. “This combination builds on the foundation of Celonis market leadership that PAF has established with the Microsoft Power Platform. This will allow our companies to bridge the gap between the Microsoft Power Platform and the Celonis execution management system,” the statement said.
PAF was launched in 2014 with the goal of bringing the ideas of process mining to the Microsoft platform. “They have a huge advantage in this area, and we thought that if we could bring this functionality into the Celonis world, it would be of great benefit to their customers, our customers and potential customers. And for everyone who uses Microsoft,” says Rinke.
As he points out, it’s about everyone in his target market. In fact, 97% of Fortune 500 users use Microsoft Office.
The company has grown well in recent years, building relationships with majors such as IBM, SAP and Service Now, as well as establishing a broad presence with many other consultants such as Deloitte, Accenture and WiPro. All this stimulates sales and huge praise.
He also made several strategic acquisitions such as today. PAF represents the company’s fourth acquisition. Rinke said the deal closed late last year and they are now building PAF functionality into the wider Celonis platform. The launch is planned for May. The deal involved 30 employees who came to Celonis. By the end of this year, the company should reach 3,000 employees.
Celonis was launched in 2011 and raised $1.4 billion, according to Crunchbase data. While the company’s ambition is to one day go public, Rinky hasn’t decided on a timetable.