Security Automation Firm Tines Raises $26 Million at $300 Million Valuation
Tines, an Ireland-based company that provides no-code automation solutions for security and operations teams, on Thursday announced that it has raised $26 million in a Series B funding round, at a valuation of $300 million.
The Series B round, which brings the total raised by Tines to $41 million, was led by investment firm Addition. The company plans on expanding with the creation of a hub in Boston, Massachusetts.
Tines has developed a platform that enables non-technical employees to automate simple and repetitive tasks in an effort to save software engineers and other more technical employees valuable time.
The company says anyone can learn to use its platform in roughly 3 hours, enabling users to easily automate processes and integrate tools, tasks that often require support from technical staff. Tines says its product aims to address issues in areas where it’s difficult to find and retain staff due to repetitive and low-fulfillment work.
One example shared by the company involves security teams and the significant amount of time they spend dealing with the increasing volume of alerts they get every day.
Tines says customers such as Box, Coinbase, Canva, Databricks, McKesson, and OpenTable use its platform to automate thousands of tasks every day.
“If software is eating the world, automation is eating the enterprise,” said Tines Co-founder and CEO Eoin Hinchy. “Yet, the majority of progress in this space still requires non-technical teams to depend on software engineers to implement their automation. Other platforms are generally either too hard to use, not flexible enough or not sufficiently robust for mission-critical workflows like cybersecurity. Tines empowers enterprise teams to automate any of their own manual workloads independently, making their jobs more rewarding while simultaneously delivering enormous value for their organizations.”