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Lightspeed Ventures, which led Tonkean's $24 million Series A round last year, is joining previous investor Foundation Capital in this round.
FREMONT, CA: Tonkean, the Operating System for Business Operations, has raised $50m in Series B round of financing led by Accel. The funding will enable Tonkean to scale up hiring to its engineering and go-to-market teams and also invest further in its no-code orchestration platform for business operations.
Tonkean enables business operations teams to create their own business logic by utilizing reusable building pieces known as "Enterprise Components." Tonkean enables business operations teams to create their own business logic by utilizing reusable building pieces known as "Enterprise Components."
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Lightspeed Ventures, which led Tonkean's $24 million Series A round last year, is joining previous investor Foundation Capital in this round. This round of funding also includes investments from numerous significant IT luminaries, including Atlassian co-CEO Scott Farquhar, former Google CEO Eric Schmidt, and UiPath executives, all of whom see Tonkean as the leader of a new category of corporate software oriented on business operations teams. Accel will be represented on the Tonkean board of directors by Partner Miles Clements, who previously led early investments in UiPath and guided their ascent to dominance in the RPA sector and a subsequent public offering.
"Tonkean's no-code platform will fundamentally change how enterprise software is built, delivered and maintained within every enterprise, just as Slack did with communication tools and UiPath did with RPA," stated Miles Clements, Partner at Accel. "We're excited to partner with the team as they shift the future of business operations."
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