Yelena Shkolnik, partner at Jump Capital, said she learned about Toolio from retail advisors who mentioned that the company was solving many of the pain points around inventory, including how to purchase the right items. Toolio initially started on the enterprise side, but last year saw a need in the mid-market for cloud tools. The latest funding gives Toolio a total of $10.3 million raised since the company was founded in 2019.