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Good Tines! $26m Series B Funding


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CategoryBusiness
DateTuesday, April 13, 2021
AuthorNewsdesk@IrishDev.com

Good Tines! $26m Series B Funding

Dublin based No-code / Low-code Automation Company Tines Announce $26m Funding Round Led by Lee Fixel's Addition

 

Tines Co-founders Eoin Hinchy (L) and Thomas Kinsella (R) say $26m Series B funding will be used to expand its product range beyond the scope of security automation.

The Dublin 'no-code / low-code' security automation company, Tines, has announced a $26M Series B funding round led by Lee Fixel's Addition, supported by reinvestments by Accel and Blossom Capital. The latest funding round brings total funding in Tines to $41m and a valuation of $300m.

 

Tines is an automation platform that creates space for high impact work. By building software to automate security workflows from the best parts of security orchestration, automation, and response, robotic process automation, and no-code/low-code engineering, its ‘click and drag’ solutions help organisations to free up staff from mundane, time consuming tasks so they are able to focus instead on business-critical tasks. Tines' software can integrate with anything with any rest API or web application to help organisations get more from existing tools. The company claims to be the only platform that bypasses the need for technical skills, delivering automation straight into the hands of security and operations teams on the frontlines.

 

 

Eoin Hinchy (pictured above left), Co-founder and CEO of Tines, explains there is a need for organisations to implement no code solutions. He said, for example, 83% of security teams are overwhelmed by the volume of alerts they receive on a daily basis with false positives taking up large amounts of time. Tines eliminates the need for high level engineers to waste resources on such alerts. Its no-code automation software simplifies implementation, lowering the barriers to entry for non-technical employees, making it easier to integrate tools and automate processes that would previously require support from over-qualified and in-demand software engineers.

 

Hinchy claims most other platforms are generally either too hard to use, not flexible enough or not sufficiently robust for mission-critical workflows like cybersecurity, and where companies are experiencing a lack of experts to deal with growing numbers of security alerts Tines’ no-code approach means employees don’t need to be a software engineer to use it, adding non-technical employees are able to learn to use the platform in approximately 3 hours.

 

“If software is eating the world, automation is eating the enterprise. Yet, the majority of progress in this space still requires non-technical teams to depend on software engineers to implement their automation.  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.”

 

Hinchy's partner and COO, Thomas Kinsella (pictured above right), said; "Tines is on a mission to allow frontline employees to focus on more business critical tasks and improve their wellbeing by automating any manual workflow to make teams more efficient, effective, and engaged."

 

Hinchy and Kinsella, who met in Deloitte a decade ago and have tandem careers in eBay and Docusign before founding Tines in 2018, say the company's Series B funding will be used to expand its product range beyond the scope of security automation in the coming year and to double their 18-person team to support product growth.

 

The funding announcement coincides with the opening of a sales office in Boston, as the company sets its sights on the US market. Existing customers automating their security operations include Box, Canva, Coinbase, Databricks, McKesson, OpenTable and Sophos.

 

VC Lee Fixel, Founder of Addition, said; “Tines has quickly established itself as a market leader in enterprise automation. We look forward to supporting Eoin and the Tines team as they continue to scale the business and enhance their product – which is beloved by their unmatched customer base.”

 

Tines also have strategic investment from cyber security backers, CrowdStrike, through its early stage investment fund Falcon Fund, and Silicon Valley CISO Investments.

 

 

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Visit: www.tines.com

 

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