Accel Partners and 83 North invest in Celonis

27. June 2018

Frank­furt a. M. — Accel Part­ners (“Accel”) and 83 North have jointly inves­ted $50 million in Munich-based Celo­nis in a Series B finan­cing. The company was valued at EUR 1 billion. Celo­nis has excee­ded its growth targets since Accel and 83 North’s $27.5 million Series A invest­ment in June 2016 and has been profi­ta­ble since its incep­tion. The two inves­tors were advi­sed by Henge­ler Muel­ler.

Accel is one of the major U.S. venture capi­tal firms. Foun­ded in 2011, Celo­nis is a soft­ware company based in Munich and New York. Its Intel­li­gent Busi­ness System is based on pionee­ring process mining tech­no­logy. As the market leader in process mining, Celo­nis helps orga­niza­ti­ons under­stand and improve opera­tio­nal process flows. Celo­nis was foun­ded by the three students Alex­an­der Rinke, Bastian Nomi­nacher and Martin Klenk (photo).

Accel, in parti­cu­lar, is a highly promi­nent name in the global tech scene, as the U.S.-based VC firm was an early inves­tor in compa­nies like Face­book and Spotify. The valua­tion of Celo­nis is no less remar­kable: With the new invest­ment, it is said to be one billion dollars. This would add a so-called unicorn to the German startup landscape.

Henge­ler Muel­ler advi­sed Accel and 83 North on the transaction.
Part­ner Dr. Georg A. Frowein (Frank­furt) and asso­cia­tes Clemens Höhn (Berlin) and Loretta Lang (Frank­furt) (all M&A/Venture Capi­tal) were active.

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