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The company also appointed Former Wall Street Analyst Carlos Kirjner as CFO

Celonis this week announced a $1 billion Series D round. The funds injection increases the company’s post-money valuation to more than $11 billion. Celonis also announced that Carlos Kirjner, a technology industry veteran and former top-ranked Wall Street analyst, has joined as Chief Financial Officer. Kirjner comes to Celonis from Google, where he led the finance team for Google’s advertising business and key product areas.

This latest funding spurt comes six months after Celonis launched its Execution Management System. The Celonis EMS provides companies a modern way to run their business processes entirely on data and intelligence. The new Celonis EMS addresses the fundamental limitations of running business processes across a complex set of aging and fragmented transaction systems, devices and edge applications, and triggered the creation of the execution management industry.

A way to fight the inefficiency that comes with growth

“As companies grow, inefficiency creeps in and business execution becomes a struggle. Employees feel it, customers feel it, and it leads to significant financial losses and environmental impact,” said Alex Rinke, co-CEO and co-founder of Celonis. “We are thrilled and honored that the rise of execution management is defining a new software stack that helps customers reimagine how they execute. It is the biggest shift in software since cloud computing.”

Celonis was one of the founding forces of the “process mining” industry. This was 10 years ago when the company first developed the ability to automatically X-ray process problems. Today Celonis is leveraging this foundation to pioneer the execution management industry and change business processes, they say.

Whatever recipe they may have developed since thoise early days seems to be working. Celonis is growing by triple digits year-over-year.

Thousands of organizations have adopted Celonis, according to the company. These include Fortune 500 companies such as Danaher, Dell, Kimberly-Clark, L’Oréal, and Pfizer. Celonis has more than 1,300 global employees and is headquartered in New York and Munich.