Valley Growth Ventures Leads $1.5M Investment in TonDone
The company, based in Akron, was founded in February 2021. Its software is used to manage work across over 800 commercial facilities in the United States. The funding will be used to expand the TonDone platform and scale distribution of the product across more commercial facilities, the company said.
“The TonDone team has built a powerful but easy to use platform that has attracted a strong customer base. We at Valley Growth Ventures are excited to invest in their growth and partner in their success,” said Managing Director Ernie Knight in a statement. “TonDone will be an excellent addition to our portfolio, and I look forward to working with the team.”
The specific amount of VGV’s investment in TonDone was not disclosed.
In addition to VGV, additional investments came from Jumpstart Inc., Wonder Ventures, Connetic Ventures, Akron Fusion Ventures and others. TonDone is a Techstars portfolio company and a member of the Bounce Innovation Hub software accelerator in Akron.
“When you’re building a startup, you need all the help you can get,” said TonDone co-founder Matt Crowley in a statement. “Valley Growth Ventures has fully rolled up their sleeves to help us in a multitude of areas like company strategy, business development and marketing. Valley Growth Ventures has been extremely strategic for our company. They’ve helped position us for continuing growth and success in our target markets.”
Valley Growth Ventures has invested nearly $1.25 million in its portfolio companies, part of a total exceeding $17 million that has been invested across its portfolio, according to today’s announcement from the micro venture capital investment fund.
In addition to providing investments to its portfolio companies, VGV also provides guidance and operational resources to help its companies expand.
The fund’s other portfolio companies include S4 Medical, a medical device company focusing on solutions to cardiac procedures to treat atrial fibrillation; DAtAnchor, a data security company providing encryption, automated data governance and dynamic access controls; MedaSync, a business intelligence and decision support software company aimed at nursing homes; and MedPilot, a patient financial engagement platform for medical offices, revenue cycle management companies and practice management systems.
Published by The Business Journal, Youngstown, Ohio.