Celonis, the global leader in Process Mining and Process Intelligence. today announced that it leapt 4 places to No. 13 on the Forbes 2024 Cloud 100 list, the definitive ranking of the top 100 performing private cloud companies in the world. Appearing on the list for the sixth consecutive year, this ranking acknowledges Celonis for its AI-powered Process Intelligence (PI) platform, which enables customers to effectively deploy AI and delivers massive value across the top, bottom and green lines.
"We are not just in the Age of AI, but we are in the Era of Efficiency. Process Intelligence is critical for organizations to generate value from their business operations and technology investments, especially AI. In fact, there is no enterprise AI without PI," said Alex Rinke, co-CEO and co-founder of Celonis. "We are honored to be recognized on this year's list for shaping the future of enterprise AI and will continue to focus on bolstering our Process Intelligence platform with new innovations that deliver deep and lasting value to our customers."
Celonis serves roughly 50% of the top 200 of the Forbes Global 2000 and has to date identified in excess of $18 billion in value for its customers across thousands of processes, systems, and industries. Companies such asAutodesk, BMW Group, ERGO Group, GE HealthCare, Ingram Micro, Lufthansa Group and State of Oklahoma are using Celonis to optimize business performance, free up billions in cash savings, and reduce their carbon footprint. In addition, industry analysts from Gartner and Everest Group have recognized Celonis as the world's leading process intelligence platform. The company has also been recognized as New York and Germany's most valuable startup, is the only German decacorn, the second largest unicorn in Europe and one of only 43 in the world.
Last fall, Celonis launched the Process Intelligence Graph (PI Graph), which sits at the heart of the company's Process Intelligence platform. Utilizing Celonis' industry-leading process mining technology, the PI Graph builds a system-agnostic digital twin of a business covering the unique business context in which the organization operates, defining what makes something "good" or "bad" for the business. It shows how a business is running and how it can run better.
Celonis provides the necessary process context to deliver meaningful enterprise AI. Consumer AI thrives on a wealth of data (e.g. books, web pages, etc.) and contextual understanding (e.g. Wikipedia, online archives, etc.). In the enterprise, there's ample raw data from IT systems (ERP, CRM, etc.), but no reference layer to connect all the disparate information. The Celonis PI Graph provides this context with a semantic layer that sits above the data to give it meaning. It understands both the current "as is" state and the future "to be" state of the business. By understanding the delta between these states and providing context, the PI Graph is a key enabler for technologies like automation and enterprise AI.
The extensible Celonis data model allows third-parties to contribute to this context layer, creating a true Wikipedia for process intelligence. This context feeds process insights into an organization's AI tool set including agents, copilots, and applications. Celonis also leverages this context to power its own AI offerings including copilots, AI apps, and custom AI solutions. The platform's AI-enabled features, such as the Process Copilot and redesigned Studio, streamline the identification of value opportunities and app development within the Celonis ecosystem. These tools leverage AI to accelerate business transformation and improve decision-making processes????.
For the ninth consecutive year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people culture (15%). For market leadership, the Cloud 100 enlists the help ofa judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers.
"For nine years, the Forbes Cloud 100 list has recognized the leading private cloud companies in the world, from AI to work software, infrastructure to security," said Alex Konrad, the Forbes editor of the Cloud 100. "This year's list is the strongest group of standouts yet, with revenue, valuations and growth that will eventually make for historic IPOs."
"Across nine years of data, we have yet to see as competitive of a cohort as the 2024 Cloud 100. The list value reached $820 billion this year, the highest list value in Cloud 100 history," said Mary D'Onofrio, partner at Bessemer Venture Partners. "Unsurprisingly, AI is now the highest valued category. We continue to be excited by how AI companies are scaling rapidly, transforming the cloud, and propelling the next wave of growth, driving a massive year-over-year jump in market cap of the list of over $150 billion."
"The past year, our industry has seen a generational step forward in innovation, and with AI leading the charge, we are witnessing one of the most important platform shifts in decades," said Paul Drews, managing partner at Salesforce Ventures. "The Cloud 100 list represents the best of the best, and we've never been more excited about what the future holds, not only for the cloud but for the entire technology industry. We are proud of what these founders and their communities have already accomplished, and look forward to seeing how they continue to transform the industry in the future."
The Forbes 2024 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100. Highlights of the list appear in the August/September 2024 issue of Forbes magazine.
About Celonis
Since 2011, Celonis has helped thousands of the world's largest and most esteemed companies yield immediate cash impact, radically improve customer experience, and reduce carbon emissions. Its Process Intelligence platform uses industry-leading process mining technology and AI to present companies with a living digital twin of their end-to-end processes. For the first time, everyone in an organization has a common language for how the business runs, visibility into where value is hiding, and the ability to capture it. Celonis is headquartered in Munich, Germany and New York City, USA with more than 20 offices worldwide.
2024 Celonis SE. All rights reserved. Celonis and the Celonis "droplet" logo are trademarks or registered trademarks of Celonis SE in Germany and other jurisdictions. All other product and company names are trademarks or registered trademarks of their respective owners. Find out more at celonis.com
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