RIYADH: Software firm Celonis has raised $1 billion in funding from backers including the Qatar Investment Authority.
Celonis was valued at $13 billion as part of the round, and the secured $1 billion will be used to build out its software aimed at helping companies to carry out their operations efficiently, according to a Bloomberg report.
Alex Rinke, co-CEO of Celonis, said in an interview that a part of the raised sum will be used to acquire other businesses.
In June 2021, Celonis had raised $1 billion at an $11 billion evaluation.
In March, Celonis completed its fourth acquisition by paying $100 million for a startup that expanded its services across Microsoft.
Founded in 2011 and co-headquartered in Munich and New York, Celonis is a data processing firm which develops process mining tools.