Celonis pioneered the process mining category 10 years ago when it first developed the ability to automatically X-ray process problems. The company is growing by triple digits year after year. Thousands of organizations have adopted Celonis including Fortune 500 companies. A few months ago, Celonis had a $1 billion Series D round, increasing its post-money valuation to more than $11 billion. This week, Celonis has announced several key acquisitions, capabilities, and partnerships involving its core platform. These include the launch of the Celonis Execution Graph, the acquisition of Lenses.io, a maker of streaming data tools, and a partnership with Canada’s Conexiom. Let’s learn the details.
DETAILS
The new Celonis Execution Graph uses graph data structures to tie together data from across business processes to see how they influence each other across systems and suppliers. Noteworthy is a new feature, Multi-Event Log, that spots inefficiencies that cross multiple processes.
Celonis also acquired Lenses.io to simplify real-time data integration into process mining, analytics, and low-code application development. Lenses took a novel approach for transforming raw real-time streaming data into clear business events. For example, this could help combine weather patterns, raw material access, and social trends to identify when shipments might be late. Celonis hopes to combine this capability with the low-code business execution technology from Integromat, which it acquired a year ago.
The third major announcement was a partnership with Conexiom, a leader in sales order automation services. The companies plan to collaborate on a touchless order-capture product to make it easier to create business processes that span multiple companies.
COMPETITION
RPA and process mining vendors are expanding into each other’s territory to become the gateway for hyper-automation initiatives that accelerate digital transformation. For example, Celonis previously acquired Integromat, which automates low-code development opportunities identified with process mining. Conversely, leading RPA vendors such as UiPath, Automation Anywhere, and Blue Prism also have moved into process mining and process discovery. Microsoft is also expanding into both RPA and process mining.
CONCLUSION
All of the three recent moves of Celonis are meant to help the company secure a lead against other process mining vendors and in the larger market for hyperautomation, which Gartner expects to reach $596 billion in 2022. These moves are part of Celonis’s long-term strategy for growing the market for process mining and execution beyond the hot market for RPA.
