Tonal seeking additional $250 million in venture capital

Photo of author

Tonal is reportedly looking to raise up to $250 million worth of equity from investors. Bloomberg reports that Tonal has been in neogation with private equity firm L Catterton and others about a new round of capital.

Tonal last raised $45 million in April of 2019, which valued the company at $185 million. Participants in the last funding round included L Catteron, Evolution Media, Shasta Ventures, Mayfield, Sapphire Ventures and Serena Williams’s Serena Ventures backed Tonal as part of that deal.

Tonal did not comment on this news, so it is not clear what specifically they would use the new funds for.

Want to be sure to never miss any news? Sign up for our newsletter and get all the latest news sent directly to your inbox.

Leave a Comment