Recently, Celonis, the global leader in process mining, was selected into the Forbes 2023 Cloud Computing Top 100 list, with a valuation of US$13 billion, ranking 17th. Celonis has been among the top 20 on the list for three consecutive years.
This list is jointly released by Forbes, Bessemer Venture Partners and Salesforce Ventures, aiming to focus on those high-growth cloud computing companies around the world that have not yet been listed.
Over the past year, the AI push has brought us through the most significant platform shift in decades. Our industry has made tremendous strides in innovation, as evidenced by OpenAI's top ranking. According to Bessemer, 55% of this year's Cloud 100 companies have integrated generative AI into their products.
As a leader in the field of process mining, Celonis has always insisted on continuous innovation and is committed to reshaping process mining, enabling everyone in the enterprise to gain insight into practical insights. Celonis customers seamlessly process and monitor billions of events every day to observe, understand and optimize the performance of their business processes. These processes cover not only supply chain, finance and customer service, but also industry-specific processes such as shop floor manufacturing, claims processing and trade settlement. Through the process intelligence provided by Celonis, customers can use data to gain a deep understanding of their business operations.
At last year's Celosphere annual customer conference, Celonis announced a breakthrough innovation in the field of process mining - "Object-Centric Process Mining" (OCPM). Rather than monitoring each process and treating them as isolated entities, OCPM is more inclined to help companies build a complete digital twin system that captures the panorama of all objects in the business, such as trucks, customer orders, parts, etc., and events such as Arrival of goods, dispatch, resolution of customer cases, etc.
This comprehensive intelligence uniquely establishes a principled data foundation that enhances and increases the effectiveness of AI solutions. With the rapid development of generative AI, Celonis saw greater potential and need to gain a deeper understanding of the company's processes.
Large-scale language models (LLMs), while powerful enough to incorporate all the knowledge captured online, fall short in terms of semantic understanding of the business, especially in the context of a specific company's process operations. By combining data with key process knowledge, Celonis meets the needs of AI in insight generation, recommendation, automation and execution operations, enabling organizations to truly fully utilize the potential of AI to optimize their business performance.
Alex Rinke, co-CEO and co-founder of Celonis, said, "The tremendous demand we're seeing for our market-leading process mining technology reflects CEOs' commitment to maximizing the value and value of every process and system in their business." There is an urgent need for cash returns. Gartner predicts that by 2025, more than 80% of organizations will introduce process mining technology into their operations to improve business efficiency and drive sustainable business value growth. Enterprises in any industry must Feeling the pressure from the macro economy, they need to be more effective in improving efficiency and creating more value, and process is the key engine to achieve both. We will continue to deepen our platform innovation, such as introducing object-centric Process mining and process intelligence AI to deliver fast and lasting value to our customers."
The following is the complete list of Forbes 2023 Cloud Computing Top 100:
Each year, Cloud 100 reviews submissions from hundreds of cloud startups and private companies, ranking companies based on four factors including market leadership (35%), valuation (30%), operational metrics (20%) ) and people and culture (15%). To achieve market leadership, the Cloud 100 enlisted the assistance of a panel of public cloud company CEOs who help evaluate and rank private company peers.
Kenrick Cai, editor of Forbes Cloud 100, said the companies on the Cloud 100 list are some of the preeminent and most innovative private companies in this critical technology field. The challenge for companies this year is that they must quickly respond to the broad impact of artificial intelligence and gain a foothold in the fierce market competition.
Mary D'Onofrio, partner at Bessemer Venture Partners, said this year's Cloud 100 list is one of the most dynamic in history. Despite macroeconomic pressures across the industry, the 2023 Cloud 100 winners demonstrate the innovation and resilience of the cloud economy, demonstrating its power by successfully combining growth and efficiency. D'Onofrio expects that by the end of this year, 95% of the winners will reach Centaur status, meaning they'll hit $100 million in annual recurring revenue. With so many winners at the forefront of the AI revolution, it will continue to drive change in cloud computing and help many of this year's winners achieve the next wave of growth.
About Celonis
Celonis is a company focused on helping customers optimize business processes. With its advanced process mining technology, Celonis provides business executives and users with a unique set of capabilities to identify and execute improvement opportunities within and across processes to rapidly improve process performance. This optimization not only yields significant cash benefits, it also dramatically improves customer experience and reduces carbon emissions. With headquarters in Munich, Germany and New York City, USA, and more than 20 offices worldwide, Celonis has successfully implemented thousands of projects for clients around the world.
About Forbes
Forbes champions success by honoring those who have achieved it and those who aspire to it. Forbes gathers and selects the most influential leaders and entrepreneurs who are driving change, transforming business and making a big impact on the world. Today, the Forbes brand reaches more than 150 million people worldwide through its trusted news coverage, iconic live and Forbes virtual events, custom marketing programs and 47 authorized local editions in 80 countries. Brand extensions for Forbes Media include licensing agreements in real estate, education and financial services.