Europe Startup Guide

Aiven

Helsinki, Finland · Startup

Managed open source data infrastructure powering PostgreSQL, Kafka, and Elastic in the cloud.

StartupSeries CInfrastructureCloud

View profile Visit site

bunq

Amsterdam, Netherlands · Startup

Mobile-first bank that lets individuals and businesses control accounts, cards, and payments.

StartupGrowthFintechBanking

View profile Visit site

Celonis is a Munich and New York-based enterprise software company that pioneered the field of process mining – technology that analyzes a company’s IT event logs to visualize and optimize its business processes. Founded in 2011 by three friends (Alexander Rinke, Bastian Nominacher, and Martin Klenk) out of university in Munich, Celonis bootstrapped in its early years and landed Siemens as a key pilot customer for its process analytics tool. The software proved invaluable in identifying inefficiencies in processes like order-to-cash, procurement, and inventory management. By 2015 Celonis was the leader in this niche, and it partnered with SAP which resold Celonis as SAP Process Mining by Celonis. Venture capital soon followed: Celonis raised $27.5M in 2016 (Series A) then $50M in 2018 (Series B). Its growth was massive – from €1M ARR in 2012 to well over €100M by late 2010s. In 2019, Celonis raised $290M at a $2.5B valuation, making it a unicorn. It wasn’t done: by June 2021, Celonis announced a $1B Series D round valuing it at $11 billion, one of Europe’s largest software funding rounds. And in 2022, Celonis reportedly reached a $13B+ valuation, firmly cementing it among Europe’s most valuable private tech companies. The company’s product evolved into the Celonis Execution Management System (EMS), which not only discovers processes but also suggests and implements improvements (sometimes via RPA bots or triggering workflows). Celonis counts thousands of enterprise customers – including Siemens, BMW, Coca-Cola, Uber – and its software helps them save billions by cutting throughput times, reducing errors, and optimizing resource use. With dual HQs in Munich and New York, Celonis has aggressively expanded in the U.S., competing with companies like IBM’s process mining. The firm is also eyeing an IPO; CEO Rinke has mentioned that Celonis is positioning itself for a public listing when market conditions are right. In the meantime, Celonis keeps growing (estimated $400M+ ARR in 2023) and acquiring smaller tech startups to bolster its platform. Celonis epitomizes the success of enterprise software from Europe – deeply technical, essentially creating a new category, and achieving decacorn status within a decade.

StartupGrowthSoftwareData

View profile Visit site