Friday Fundings: Celonis, Urban Company, and LeoLabs
German Software Company Raises $1 Billion
Celonis, a German software company, raised $1 billion in venture funding, giving it a valuation of more than $11 billion. The Series D round was led by new investors Durable Capital Partners and accounts advised by T. Rowe Price.
The fundraising comes shortly after Celonis launched its Execution Management System software product. This tool analyzes data and automates decision-making for businesses. The company is growing by triple digits year-over-year. It counts Dell (DELL), L’Oréal (LRLCY), and Pfizer (PFE) among its customers. The funding will be used to enhance its software in order to yield better recommendations and make smarter business decisions.
Indian Home Services Platform Raises $255 Million
The home services marketplace operator, Urban Company, raised $255 million in venture capital, giving it a valuation of $2.1 billion. The startup joins a long list of companies to achieve unicorn status in India this year. The Series F round was led by Prosus Ventures, Dragoneer, and Wellington Management.
Urban Company provides consumers with access to a variety of home repairs and services. It is operational in 35 cities in India, Singapore, Australia, the UAE, and Saudi Arabia. The fresh funding will be used for expansion into new markets and to speed up onboarding of new service providers. The startup is also eyeing an IPO within two years.
Space Debris Startup Cleans Up With $65 Million Round
LeoLabs, a startup which tracks space debris in low Earth orbit, raised $65 million in venture funding. The Series B round was led by Insight Partners and Velvet Sea Ventures. All told, the space startup has raised more than $100 million in venture capital.
LeoLabs relies on a network of radars located around the world to monitor space debris. The need to track this material has increased over the years as more satellites and spacecraft are launched into orbit. LeoLabs has space radars in Texas, Alaska, New Zealand, and Costa Rica. The new capital will be used to hire more employees, increase the speed at which it builds new radars, and to launch cloud software products.
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