Photo credit: Omer Fridman
Israeli startup Tonkean secured $50 million in Series B funding at the end of last week. The round was led by Accel, with participation from Lightspeed and Foundation Capital. In addition to the VC funds, a few interesting names were listed among Angel investors in the round, including: Eric Schmidt, former Google CEO; Eric Yuan, Zoom CEO; Atlassian co-CEO Scott Farquhar, and executives from UiPath.
No-code process orchestration
Tonkean has developed an operating system for business operations; implementing no-code automation technologies to replace previously manual organizational processes. For example, daily attendance goes from a developer's daily task to an automated system. The OS (operating system) platform also enables operations teams to create no-code software robots, which automate data channels between different systems; monitor and allocate tasks and authorizations; create reports and assume much of the process orchestration role. Tonkean allows operations teams to safely create solutions that work on top of their current tools and align with the way people actually like to work.
The company’s drag-and-drop system seamlessly integrates with a number of different web services such as, GitHub, Harvest, Facebook, monday.com, Zendesk, Asana, Trello, Basecamp, GitLab, and Google’s G Suite. Other companies relying on the Tonkean operating system include Lyft, Microsoft, Instacart, GrubHub, and Salesforce.
“Building software is still only a privilege for the few. The world needs more makers,” said Sagi Eliyahu, CEO and Co-Founder of Tonkean. “Business processes are complex, and today’s options of ‘build vs buy’ are not enough. Tonkean is challenging this status quo. We are creating a new alternative in enterprise software. Instead of just buying more applications, relying on engineering, or forcing new behavior - operations teams can now solve business problems faster, by composing their own solutions.
Tonkean was founded in 2015 by CEO Sagi Eliyahu and CTO Offir Talmor, and has tripled its headcount to 60 since the beginning of 2020. The company has offices in Tel Aviv and San Francisco. To date, Tonkean has raised $81 million.