Tonkean scores $7.2m in funding to support growth of team

Robotic automation and management company Tonkean has scored $7.2m in its Seed round led by Foundation Capital.

Magma Partners and Slow Ventures also contributed to the round. With the fresh funds, the company will focus on strategic growth and hiring additional staff, as well as increasing development of its robotic automation and management platform.

Alongside the investment, Foundation Capital partner Joanne Chen will join the Tonkean board of directors.

Tonkean empowers operations teams to deploy custom bots to automate the administrative tasks and coordination tasks within business processes such as updating records, moving data between systems or following up on action items and projects.

Finance teams can use the technology to improve financial and compliance auditing, financial approvals, billing and revenues, and cross-department data collection.

Foundation Capital partner Joanne Chen said, “The need to simplify and automate processes in modern-day enterprises is undeniable, and this is not just a systems problem.

“The talented team at Tonkean has introduced the next generation of automation that incorporates the unique attributes and behaviours of people.”

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