Celonis initially focused on assisting organizations in visualizing their internal workflows through the creation of detailed process maps. While this capability proved beneficial, the company subsequently determined that analyzing these processes was only the first step; the next logical advancement involved identifying methods to enhance their overall efficiency. The company recently announced its acquisition of Integromat, a Czech-based startup, to accelerate its efforts in process automation – an area Celonis began developing within its platform last year.

The financial specifics of the acquisition were not revealed, however Celonis co-founder and CEO Alexander Rinke indicated the transaction exceeded $100 million. “The deal involved a sum in the hundreds of millions, above $100 million. We are unable to share the precise figure, but that range is accurate,” he stated. The acquisition process has already been completed.

Rinke characterizes Integromat as an enterprise-level alternative to Zapier, noting its considerable success in building a $10 million business with a customer base exceeding 11,000. The integration of Integromat will empower Celonis to automate processes spanning various applications, a task that often presents significant challenges.

“They have developed what I consider to be a groundbreaking approach to automation. This is particularly important for us as we aim to broaden our product offering beyond simply being a process mining tool that highlights how processes are currently performed. We are evolving towards what we define as an execution management system, which will continuously assist in optimizing the execution of critical processes,” Rinke explained.

Rinke emphasizes that all organizations rely on a core set of essential operations, and by automating these systems – as now facilitated by Integromat – businesses can discover opportunities to improve efficiency through automation.

“We believe a crucial layer is needed to first understand the current state of operations, assess existing organizational capacity, pinpoint areas of significant gaps and trapped capacity, and then implement automation. This is a vital component because, once these insights are gained, the goal is to automate as much as feasible,” he said.

The 60 individuals employed by Integromat will now join the Celonis team. Rinke confirmed that Integromat’s technology will be integrated into the Celonis platform while also continuing to be offered as a separate, independent product to its existing customer base – a positive development for those users.

Founded in 2011, Celonis has secured over $364 million in funding, including a $290 million investment last November that valued the company at $2.5 billion. Integromat, established in 2012, has not yet received any external funding. Financial data for both companies is sourced from PitchBook.