Jones Day Advises Celonis on US$50 Million Series B Financing
Munich, Germany — Jones Day advised Celonis SE, a software company based in Munich and New York, in connection with a US$50 million Series B financing round for participation by existing investors Accel and 83North. The Series B financing round was based on a US$1 billion enterprise valuation of Celonis SE.
Since its founding in 2011, Celonis has become a pioneer in the field of process mining. Based on this technology, the Celonis Intelligent Business System helps companies understand and improve operational process flows. The current investment will be used for further investments in research & development and support the global expansion plans. The US headquarters in New York, which opened in September 2016, grew tenfold last year, new offices were added in London, Boston, Raleigh and Miami, and the site in the Netherlands was expanded. Growth targets since the June 2016 Series A investment of $27.5 million have all been exceeded.
Jones Day already advised Celonis, which was still operating as a limited liability company at the time, in its first Series A financing round. At US$ 27 million, the volume was very high for a venture capital financing in the German market and the legal structure unusually complex. Among other things, the company was converted into an SE (Societas Europaea) with a monistic board of directors by way of a downstream merger after the investment.
Advisor Celonis: Jones Day
Ivo Posluschny, Photo (Lead Partner, Private Equity, Munich), Dr. Karsten Müller-Eising (Banking, Finance & Securities, Frankfurt), Dr. Markus Fisch (M&A, Munich).
About Jones Day
Jones Day is one of the world’s best and most diversified commercial law firms and has been recognized for years as the most client-focused firm. Jones Day advises and represents more than half of the DAX 30 companies and has been the number one firm by number of M&A deals completed worldwide without interruption since 2000 (Thomson and Bloomberg). The firm employs more than 2,500 lawyers in 43 business and financial centers worldwide — including about 600 in Europe and 200 in Asia. In Germany, the firm is represented by more than 100 professionals in Düsseldorf, Frankfurt and Munich.