Process Mining software
Updated: June 03, 2021
2021. Process mining software startup Celonis snares $1B
Celonis, the late-stage process mining software startup, announced a $1 billion Series D. The company’s processing mining software sits at the beginning of the process automation food chain, which includes robotic process automation, no-code workflow and other tools to bring more automated workflows to companies. It’s quite possible that the company could develop other pieces of this or use the new capital to buy talent and functionality, something that Rinke acknowledges is possible now with this much capital behind the company.
2021. Celonis announces significant partnership with IBM to sell its process mining software
Before you can improve a workflow, you have to understand how work advances through a business, which is more complex than you might imagine inside a large enterprise. That’s where Celonis comes in. It uses software to identify how work moves through an organization and suggests more efficient ways of getting the same work done, also known as process mining. Today, the company announced a significant partnership with IBM where IBM Global Services will train 10,000 consultants worldwide on Celonis. The deal gives Celonis, a company with around 1,200 employees, access to the massive selling and consulting unit, while IBM gets a deep understanding of a piece of technology that is at the front end of the workflow automation trend.
2020. Microsoft brings new process mining features to Power Automate
Power Automate, Microsoft’s platform for streamlining repetitive workflows, has got a new tool, the Process Advisor. This new process mining tool provides users with a new collaborative environment where developers and business users can work together to create new automations. The idea here is that business users are the ones who know exactly how a certain process works. With Process Advisor, they can now submit recordings of how they process a refund, for example, and then submit that to the developers, who are typically not experts in how these processes usually work.
2019. Celonis, a leader in big data process mining for enterprises, nabs $290M
German company Celonis, a leader in the area of process mining — which tracks data produced by a company’s software, as well as how the software works, in order to provide guidance on what a company could and should do to improve it — has raised $290 million in a Series C round of funding, giving the startup a post-money valuation of $2.5 billion. The core of Celonis’ offering is to provide process mining around an organizations’ IT systems. In recent times, the company has started to expand the system into a wider set of use cases, by providing tools to monitor operations and customer experience, and to apply its process mining engine to a wider set of company sizes beyond large enterprises, and by bringing in more AI to its basic techniques.