Celonis announced a $1 billion Series D round co-led by Durable Capital Partners and T. Rowe Price Associates Inc.

Celonis, a Munich, Germany-based software company, announced completing the process for accessing $1 billion in a series D capital raise.

The money was raised from investors led by Durable Capital Partners LP and funds and accounts advised by T. Rowe Price Associates Inc., with participation from Franklin Templeton, Splunk Ventures and a group of principal investors. Also joining the round were existing investors including Arena Holdings.

In addition, Carlos Kirjner, a technology industry veteran and former top-ranked Wall Street analyst, joined as Chief Financial Officer from Google, where he led finance for its flagship advertising business and key product areas.

The deal puts a post-money company valuation to more than $11 billion.

Celonis, founded in 2011 by Alexander Rinke (CEO), Bastian Nominacher and Martin Klenk, developed a process mining core, which backs the Celonis Execution Management System aiming to offe a set of applications, and developer studio and platform capabilities for business executives and users to eliminate billions in corporate inefficiencies.

Celonis has thousands of customers, including ABB, AstraZeneca, Bosch, Coca-Cola, Citibank, Danaher Corporation, Dell, GSK, John Deere, L’Oréal, Siemens, Uber, Vodafone and Whirlpool. Celonis is headquartered in Munich, Germany and New York City, USA and has 15 offices worldwide.

The Series D follows previous investment rounds of $290 million from a Series C in November 2019, $50 million from a Series B in June 2018, and $27.5 million from a Series A in June 2016.