Celonis, the global leader in Process Mining, today announced that it has earned the No. 17 spot on the Forbes 2023 Cloud 100 list, the definitive ranking of the top-performing 100 private cloud companies in the world. Celonis has been recognized for the fifth consecutive year for its market leadership, valuation, operating metrics, and people & culture.
Celonis has been adopted by more than 1,500 companies and has already delivered in excess of $10 billion in value for its customers. Leading analyst firms such as Gartner, IDC, HFS and Everest Group recognize Celonis as the leading process mining company. Companies such as Autodesk, Cisco, Dell Technologies, DuPont, GE HealthCare, HP, VMWare, Lufthansa, Johnson & Johnson, Mars, Uber and Wells Fargo are using Celonis to optimize business performance, free up billions in cash savings, and reduce their carbon footprint.
“The huge demand for our market leading process mining technology shows the urgency for CEOs to maximize value and cash impact from every process and system in their business. Gartner estimates that by 2025 more than 80% of organizations will adopt process mining into their operations to improve business performance and drive sustainable business value,” said Alex Rinke, co-CEO and co-founder of Celonis. “Every business in every industry feels the macroeconomic headwinds and therefore needs to be more efficient and create more value — and processes are the engine for both. We will continue to bolster our platform with innovations like object-centric process mining and process-intelligent AI to deliver fast and lasting value to our customers.”
Celonis has been on a relentless innovation journey to reinvent process mining and make actionable insights accessible to anyone across the enterprise. Celonis customers seamlessly process and monitor billions of events daily to observe, understand and maximize the performance of their business processes. These processes span across supply chain, finance, and customer service but also, increasingly, industry-specific processes such as shop-floor manufacturing, claims processing, and trade settlements. Empowered with the process intelligence provided by Celonis, customers gain a data-driven understanding of their business operations.
At its annual Celosphere customer conference last fall, Celonis announced a breakthrough innovation in process mining called “Object-Centric Process Mining” (OCPM). Rather than monitoring individual processes and treating them as isolated entities, OCPM enables companies to create a complete digital twin that captures all the objects (e.g. trucks, customer orders, parts) and events (e.g. shipment arrival, dispatching, resolution of a customer case) in the business.
This holistic intelligence also uniquely provides a principled data foundation that enables AI solutions to operate more powerfully and effectively. With the rapid advancement of Generative AI, Celonis sees even more potential and demand for its deep understanding of companies’ processes. LLMs are incredibly powerful as they consist of all knowledge captured on the web. However, they lack semantic understanding of a business and especially the context of how a specific company’s processes work. By pairing the data with critical process knowledge — which AI needs to effectively generate insights or to recommend, automate and execute actions — Celonis enables organizations to truly capitalize on the potential of AI to optimize their business performance.
For the eighth 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.
“The companies of the Cloud 100 list represent the best and brightest private companies in this crucial tech sector,” said Kenrick Cai, the Forbes editor of the Cloud 100. “This year’s companies had to react rapidly to AI’s sweeping impact while contending with a market pullback. Their resilience puts them in elite company. Congratulations to each of the 2023 Cloud 100 honorees and the 20 Rising Stars who are showing early potential to one day join their ranks.”
“This year’s Cloud 100 list is one of the most dynamic in history. While the industry faced macro headwinds, the 2023 Cloud 100 winners displayed the innovation and resilience of the cloud economy and the combination of growth and efficiency that prove the power of the cloud business model. 95% of the honorees are forecasted to reach Centaur status — $100 million of annual recurring revenue — by the end of the year,” said Mary D’Onofrio, partner at Bessemer Venture Partners. “It is further exciting to see so many honorees at the forefront of the AI revolution, which we believe will continue to transform the cloud and propel the next wave of growth for many of this year’s winners.”
“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, 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 2023 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100. Highlights of the list appear in the August/September 2023 issue of Forbes magazine.
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