SA国际传媒

In an uncertain economic environment, all businesses are looking to cut inefficiencies.

Investors have placed a big bet on one of the companies helping to find those inefficiencies.

announced Tuesday it has secured an additional $1 billion in funding. The new funds include a $400 million equity raise鈥攚hich the company says is an extension to its Series D from June 2021鈥攁s well as a credit facility for up to $600 million.

The new funding gives the company a post-money valuation of nearly $13 billion.

The company was already minted a decacorn after it announced its previous $1 billion Series D round at a valuation of $11 billion 14 months ago.

The $400 million Series D extension was led by the 聽and included new investors , a fund advised by , and . Existing investors also participated.

The credit facility is a five-year $500 million line that is expandable to $600 million. The debt facility was led by and included other large, global lenders.

Process mining

Celonis鈥攚hich has headquarters in both Germany and New York鈥攈elps businesses find and fix inefficiencies with a set of 鈥減rocess mining鈥� tools. The tools can spot issues such as supply chain or invoicing problems. The company already has more than 2,500 enterprise global deployments.

“There is a ‘behind-the-scenes secret’ that Celonis is equally effective in driving top- and bottom- line value in both booming and challenging economies,” said , co-CEO and co-founder, in a . “We have never experienced more urgency from customers to use Celonis to hunt down and fix the kind of process problems that can yield tens to hundreds of millions in cash and time savings.”

The huge raise comes at a time when the venture capital market is experiencing a slowdown鈥攅specially in large, late-stage growth rounds.

Illustration: Dom Guzman