Tonkean raises $50M to expand its workflow automation platform

Tonkean, a application startup building a no-code workflow automation platform, today announced that it nabbed $50 million in a series B round led by Accel with participation from Lightspeed Ventures and Foundation Capital. CEO Sagi Eliyahu says that the proceeds will be place toward scaling up the company’s hiring efforts across engineering and go-to-market place teams.

San Francisco, California-based Tonkean was founded in 2015 by Eliyahu and Offir Talmor. At age 18, Eliyahu and Talmor met in the Israel Defense Forces (IDF), exactly where they spent 4 years working on application technologies and challenges. Before founding Tonkean, Eliyahu was the VP of engineering at Jive Software, but quite a few of Tonkean’s R&ampD early hires in Israel came from Eliyahu’s and Talmor’s IDF unit.

Eliyahu argues that the worth proposition of Tonkean’s platform is twofold. It offers corporations and teams inside these corporations the capability to tailor workflows to systems, personnel, and processes. At the identical time, it solves challenges in a way that does not need quite a few customizations.

“As [Jive] scaled, [we] encountered problems that large businesses often see as inevitable: a tech stack that balloons to include hundreds if not thousands of applications and inefficiency that ran rampant throughout the organization,” Eliyahu told VentureBeat by means of e mail. “Tonkean was built to solve the fundamental challenges of enterprise software to allow department and operational experts to actually deliver software with the flexibility to streamline business processes without introducing yet more apps.”

Workflow automation

Tonkean’s workflow designer features adaptive modules that can be added or removed in a drag-and-drop style. Customers can use it to proactively attain out and adhere to men and women by means of e mail, Slack, or Microsoft Teams to provide information and actions to them or to hold track and handle overall performance across processes, men and women, and systems. Moreover, they can automate manual actions such as triaging finance requests, routing products to group members, and chasing status updates. Or they can dive into live specifics of person jobs and see aggregate views of metrics and KPIs like turnaround time, turnover price, and cycle instances for tasks.

“In many cases, Tonkean is reducing the need for internal custom development by IT and business technology teams or the need to purchase multiple packaged solutions to support needs from various business units,” Eliyahu stated. “Tonkean operates at the cross-section of automation platforms like robotic process automation, integration platform as a service, and business process automation, often replacing but also often extending the value of these platforms by allowing enterprises to orchestrate more complex, human-centric processes and reducing the technical skill sets needed to leverage capabilities provided by technology platforms.”

Tonkean says it currently has “a few dozen” buyers, mainly at the Fortune 1000 level — such as Grubhub and Crypto.com.

“Tonkean’s AI-powered coordination engine can intelligently and proactively reach people by learning individual or team preferences, like what communication medium is preferred, and route alerts, data, or actions to the right place at the right time,” Eliyahu stated. “Tonkean is the operating system for business operations, and as such can be used to deliver use cases in any business operations function including revenue operations, legal operations, HR operations, finance operations, IT operations, and more.”

Tonkean has raised $81 million in venture capital to date with this most recent funding round, which also had contributions from Zoom CEO Eric Yuan, Atlassian co-CEO Scott Farquhar, former Google CEO Eric Schmidt, and executives from UiPath. The corporation, which has more than 60 personnel, plans to expand the size of its workforce to more than one hundred inside the next year.

Originally appeared on: TheSpuzz