Tonkean Raises $24m Series a for Adaptive Business Operations
Tonkean, the operating system for operations teams, announced the completion of a $24 million Series A round, led by Lightspeed Venture Partners, to introduce Adaptive Business Operations (ABO) software to enterprises. Lightspeed Venture Partners’ Raviraj Jain will join Tonkean’s board. Foundation Capital, who led Tonkean’s $7.2 million seed round last year, also participated along with Magma Venture Partners and Slow Ventures.
Operations is the foundation of every business. Yet, the operations function is often neglected. Although operations teams now exist across all critical functions—like sales, marketing, customer success, legal, IT, HR, development, product, and finance—they still lack a dedicated toolset or platform designed specifically to help them maximize their value by creating internal processes that are efficient, empowering, and adaptive.
Instead, operations teams end up being forced to create manual processes, which leads to employee frustration, constant change management, and endemic business inefficiencies.
“The world needs to start thinking differently about how to solve operational challenges,” says Sagi Eliyahu, co-founder and CEO of Tonkean. “Business processes are about people, not only data. We need to start thinking people-first, as opposed to tech-first. For too long, we’ve subscribed to the ‘there’s an app for that’ approach, but that’s not always the solution you need. In order to create efficiencies in our own businesses’ and people’s unique reality, we need technology to easily adapt to our needs, instead of forcing us to learn a new app.”