The no-code & low-code market does not show any signs of slowing down. New companies en products keep appearing. Startup Tonkean recently secured their series A funding, proving how hot this market still is (and will be the coming years!).
(this article originally appeared on techcrunch.com and was written by Lucas Matney )
As more companies find their workflows upended by remote work in the pandemic crisis, there are plenty of SaaS startups aiming to sell them a new path to streamlining processes. Tonkean is an SF startup selling a no-code automation platform to do just that, and it’s in the fortunate position of just having closed a hefty Series A.
The company closed a $24 million round led by Lightspeed Venture Partners, Tonkean’s team tells TechCrunch. Lightspeed’s Raviraj Jain is joining Tonkean’s board. The company has raised just over $31 million to date.
Their software is a robotic automation and management platform catered toward ops that integrates with a bunch of data sources and allows customers to set up their own customizations. These customizations can help with routing tasks to the right person, automating follow-ups or moving data between systems. The software is meant to enable nearly endless customizations, but a big focus seems to be on stripping repeatable tasks from the workflows of ops teams or taking care of early steps in those processes.
“The future of enterprise software is adaptive and personalized,” CEO Sagi Eliyahu told TechCrunch in an interview.
The company frames its tech as “human-in-the-loop robotic process automation,” essentially using its no-code platform to allow the people completing tasks manually to create the automation processes for letting bots take over. The visual drag-and-drop workflow of creating these processes seems to be a big selling point. New customers can also shop around for functionality via templates added by other customers.
RPA has been a hot area in recent years, with players like Automation Anywhere and UIPath achieving sky-high private valuations. As the big players in the space focus on courting bigger and bigger clients, Tonkean’s tighter focus on streamlining workflows for operations teams could give them an inroad, even as they look to scale during uncertain times.