Global-Spin News

Celonis is TU Munich’s first ‘Unicorn’

Celonis is TU Munich’s first ‘Unicorn’
Friday, 31 August 2018

A ‘unicorn’ is a start-up company with a value over $1 billion [1]. Celonis, a spin-off from the Technical University of Munich (TUM), has recently reached this level and, therefore, are considered to be among the most successful start-ups around the world. This is no small feat, especially in Germany where it is considered that just five German start-ups have managed to reach the $1 billion mark in the last ten years. [2]

The company was born when the founders were working at a student club offering business consulting services and came across a case that had no current solution. The students decided to develop one themselves, basing their ideas on what they were studying at University. To this day the company keeps ties to TUM, with more than 25% of their employees having studied there. [2]

According to their website, this company has one goal: to make the world more efficient by analysing current processes and improving them. They consider that their “process mining” will be the new standard for Big Data Analytics. [3] Their ‘solutions’ allow companies to optimise their production processes by using a constant influx of data around supply chain management and manufacturing processes. [4]

Considering that around on third of companies listed on the German DAX index are using the software, they must be doing something right [2]!

[1] https://www.investopedia.com/terms/u/unicorn.asp
[2] https://innovationorigins.com/celonis-is-the-first-unicorn-from-tu-munich
[3] https://www.celonis.com/company
[4] https://www.celonis.com/solutions