Celonis

company on 3 shows · 12 statements across 3 episodes · said 50 times in 7 episodes since 2020

the MAD Podcast 39 20VC 8 Top Founders 3

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the MAD Podcast 3920VC 8Top Founders 3

every mention on every show, scene by scene, with the transcript →

12 statements about Celonis, every show

MAD Assertion Supported
Matt Turck: Celonis reached 3,000 employees and a $13B valuation
“So, 3000 employees in Munich, New York, Madrid, and 17 offices around the world. 5000 enterprise customer deployments. And a thirteen billion dollar Valuation. Most recently, you raised a billion dollar in Series D round.”
Matt Turck Feb 8, 2024 ▶ 1:23 Bootstrapping a Decacorn on $15k with Celonis CEO Alex Rinke
MAD Assertion Partly supported
Alex Rinke: Celonis raised only $15,000 during its first six years
“We had no funding, right, so for the first six years we had All the funding we had was 15,000 US dollars.”
Alex Rinke Feb 8, 2024 ▶ 6:58 Bootstrapping a Decacorn on $15k with Celonis CEO Alex Rinke
MAD Disclosure
Advisors urged Alex Rinke to rebrand Celonis to an AI domain
“There was literally people telling me, like, you need to get rid of solonis.com, you need to call it solonis.ai, right?”
Alex Rinke Feb 8, 2024 ▶ 26:16 Bootstrapping a Decacorn on $15k with Celonis CEO Alex Rinke
MAD Assertion Not checkable as stated
Alex Rinke: Celonis tracks the exact realized value for every customer
“So, for example, I can pull out a dashboard right now Every single customer that we have, how much value have they realized?”
Alex Rinke Feb 8, 2024 ▶ 34:50 Bootstrapping a Decacorn on $15k with Celonis CEO Alex Rinke
20VC Prediction Not checkable as stated
George: Celonis will deliver sustained high growth without aggressive cash burn
“I think their business model is fantastic. I would view their future as very elevated levels of high growth with high returns on capital, and, you know, there's not some looming intense competitive threat that makes them think that they should aggressively go …”
David George Jul 19, 2021 ▶ 10:36 20VC: a16z's David George on Leading a16z's Growth Fund Today, The Biggest Misconceptions of Growth Investing, How a16z Think Through Portfolio Construction, Investment Decision-Making and Scenario Planning & How The Entrance of New Players Has Changed Th
MAD Disclosure
Celonis bootstrapped without outside capital for its first five years
“So, so actually we didn't raise money for half a decade. We raised three hundred sixty million or sixty-seven million cents. The first, so the company has been around for nine years, and the first five years we didn't raise a cent.”
Alex Rinke Aug 13, 2020 ▶ 4:20 Fireside Chat: Alex Rinke (Founder & CEO, Celonis) with Matt Turck (Partner, FirstMark)
MAD Assertion Not checkable as stated
Celonis's first customer cut ticket resolution from five days to same-day
“Like within three months, they got their resolution time for tickets, right? That's a very important metric to measure. Down from five days to solving over 80% of their tickets in zero, like in the same day. Without firing or hiring a single employee.”
Alex Rinke Aug 13, 2020 ▶ 5:43 Fireside Chat: Alex Rinke (Founder & CEO, Celonis) with Matt Turck (Partner, FirstMark)
MAD Disclosure
Alex Rinke didn't know what SAP was when he co-founded Celonis
“Before we started Salonis, even when we started Salonis, like the day we started the company, I didn't know what SAP was.”
Alex Rinke Aug 13, 2020 ▶ 7:41 Fireside Chat: Alex Rinke (Founder & CEO, Celonis) with Matt Turck (Partner, FirstMark)
MAD Assertion Not checkable as stated
Celonis is the largest third-party product sold by SAP
“We're the biggest product on there that they sell outside of their own portfolio.”
Alex Rinke Aug 13, 2020 ▶ 10:48 Fireside Chat: Alex Rinke (Founder & CEO, Celonis) with Matt Turck (Partner, FirstMark)
MAD Assertion Not checkable as stated
Thousands of KPMG and McKinsey consultants use Celonis
“We have thousands of certified consultants from KPMG, from McKinsey, et cetera, that use our platform extremely heavily.”
Alex Rinke Aug 13, 2020 ▶ 24:48 Fireside Chat: Alex Rinke (Founder & CEO, Celonis) with Matt Turck (Partner, FirstMark)
MAD Insight
Enterprise startups often underprice their software, ruining their sales unit economics
“I think a lot of entrepreneurs, if they sell to the enterprise, underestimate the effort of selling to the enterprise and end up selling their products so cheap so that the sales process is so cumbersome that you can't really invest into it.”
Alex Rinke Aug 13, 2020 ▶ 32:17 Fireside Chat: Alex Rinke (Founder & CEO, Celonis) with Matt Turck (Partner, FirstMark)
MAD Insight
Product roadmaps should strictly prioritize features that accelerate time to value
“I think the only thing you should think about and you should be extremely fisa about prioritizing your product roadmap should be what accelerates time to value.”
Alex Rinke Aug 13, 2020 ▶ 35:35 Fireside Chat: Alex Rinke (Founder & CEO, Celonis) with Matt Turck (Partner, FirstMark)

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