Three students in Germany created a data mining startup without taking VC money for five years — now it’s worth $1 billion

Celonis

• A German data mining startup is the newest unicorn, raising $ 50 million from Accel Partners and 83North at a $ 1 billion valuation.
• The technology uses a combination of a data technique called “process mining” to gather information about a company’s operations, and it uses artificial intelligence to suggest ways to make those operations better.
• The company says it has grown 5,000% in the last four years.

Celonis, a data mining startup that uses artificial intelligence and machine learning to help make companies more efficient, has raised $ 50 million in a series B funding round that values the startup at $ 1 billion.

The round was led by existing investors Accel Partners and 83North.

See the rest of the story at Business Insider

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