Irish cybersecurity enterprise Tines has closed a $26m Series B funding round to speed up the development of its no-code security automation platform.
The funding round was led by Addition and also included Accel and Blossom Capital, as well as strategic investments from Silicon Valley CISO Investments and CrowdStrike. Following this round, a total of $41.1m has been invested into the company, with the firm valued at $300m.
Founded in 2018, Tines is developing an automation platform designed to aid security and operations teams in automating manual workloads. The technology combines security orchestration and robotic process automation with a no-code user interface.
The company noted it is on a mission to allow frontline employees to focus on more business-critical tasks and boost their wellbeing by reducing the burden of ‘busy work’ by aiding the automation of any manual workflow.
By reducing the time spent on routine repetitive tasks, the platform would supposedly enable them to focus on the areas where they can have the most impact. The platform’s tools will feature pre-configured integrations with a range of business and security tools. It also features the ability to enter into almost any API.
Tines is headquartered in Dublin, Ireland. The firm recently opened an office in Boston and plans to use some of the new funding to expand its 18-person team to support the growth of its products. Existing Tines customers include, but are not limited to, Canva, Box, Sophos and OpenTable.
Tines co-founder Eoin Hinchy said, “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. 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.”
In 2019, Tines closed a $4.1m Series A round led by venture capital firm Blossom Capital.
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst
