- June 24, 2021
- Posted by: Stratford Team
- Category: Business
Business operation automation startup Tonkean announced this morning that it closed a $50 million Series B round of capital. Accel led the round, which came just over a year after the startup raised a $24 million Series A. Lightspeed Ventures, which led the company’s preceding venture capital round, also participated in its new funding event.
Sagi Eliyahu, Tonkean’s co-founder and CEO, told TechCrunch in an interview that his company’s valuation rose by around 4x in its latest funding round.
The startup was able to secure more capital at a higher price thanks in part to quick growth in 2020, which Eliyahu said was concentrated in the second half of 2020.
Tonkean is an interesting mix of business process automation, no-code and humans. In short, the startup allows a company’s ops groups — sales ops, marketing ops, etc. — to set up automated business logic across applications that can include human-in-the-loop elements….