Tonkean, a no-code automation platform receives US$24M from Lightspeed

by Felicia Calle

As more and more enterprises find their workflows affected by remote work during the COVID-19 pandemic crisis, several SaaS startups are willing to sell them a new way to streamline their processes. Tonkean, an SF startup is selling a no-code automation platform that will help enterprises to do that, and it is in a fortunate position of closing a US$24 million in a Series A funding.

Lightspeed Venture Partners led this funding, and Lightspeed’s Raviraj Jain will be joining the Tonkean’s board. To date, Tonkean has raised approximately US$31 million.

Tonkean’s software is a robotic automation and management platform catered towards operations integrating with a bunch of data sources, allowing customers to set up their customizations.

The customizations can help with automating follow-ups, routing tasks to the right person, or moving data between systems. These customizations can enable nearly countless customizations, although its main focus seems to be stripping repeatable tasks to the workflow of operations or taking care of initial steps in those processes.

In an interview, Sagi Eliyahu, the CEO of Tonkean, stated, “the future of enterprise software is adaptive and personalized.”

Tonkean frames its tech human-in-the-loop robotic process automation using its no-code platform, allowing people that are completing tasks manually to create automation processes for allowing bots to take over. Its big selling point seems to be the visual drag-and-drop workflow that creates these processes.

New users can also shop around for functionality through templates that are added by other customers.

In recent years, RPA has been a hot area, with players like UIPath and Automation Anywhere achieving high private valuations. Bigger players in the field focus on courting more prominent clients, but Tonkean’s tight focus is streamlining workflows for ops teams that could give them an inroad, as they still want to scale during uncertain times.

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