Qatar Investment Authority & Commonfund Capital Help Raise Company’s Valuation

By David. G. Barry

The Qatar Investment Authority (QIA), Commonfund Capital and a Neuberger Berman-advised fund are among those backing a startup whose valuation is now $2 billion higher than it was a year ago.

QIA, the State of Qatar’s $450 billion sovereign wealth fund, led Celonis’ $400 million Series D extension. Backers also included Commonfund Capital – the private equity investment arm of outsourced chief investment officer firm Commonfund – and Neuberger-advised Activant Capital. Alta Park Capital and such existing investors as Arena Holdings, T. Rowe Price Associates, Inc., Franklin Templeton, Durable Capital Partners, TCV, 83North and Accel Partners also participated.

Based in Munich, Germany, and New York, Celonis is focused on execution management. The company has created technology enabling users to eliminate corporate inefficiencies, provide better customer experience and reduce carbon emissions. Celonis said it is enjoying a record year of “strong growth,” with more than 2,500 enterprise deployments globally.

The new round is an extension of a $1 billion round that it announced in June 2021 that valued Celonis at $11 billion. The company said it was valued at $13 billion after the new round, which also included expanding its revolving credit facility to as much as $600 million.

Over the past six years, Celonis has raised more than $1.7 billion.

QIA has been active, having just recently also participated in backing a life sciences company.