No-code automation company, Tines, valued at $300M after $26M series B led by Addition

Irish News, Technology, US News | Thu 8 Apr | Author – Business & Finance
Pictured (L-R): Eoin Hinchy and Thomas Kinsella, co-founders of Tines

Tines, the company with strategic backing from CrowdStrike and Silicon Valley CISO Investments, is transforming organisations’ security operations by automating manual workloads for frontline employees. The opening of a Boston Hub will aid the 18-person team to expand operations globally and attract world-class talent.

No-code security automation company Tines has raised $26M in a Series B funding round led by Addition.

The 18-person company is now valued at $300M and has now raised a total of $41.1M in total funding with follow-on funding from high level investors including Accel and Blossom Capital. It also has strategic investment from cyber security backers, CrowdStrike, through the company’s Falcon Fund, and Silicon Valley CISO Investments.

Tines is on a mission to allow frontline employees focus on more business critical tasks and improve their wellbeing by reducing the burden of ‘busy work’ by helping automate any manual workflow and making existing teams more efficient, effective, and engaged.

Existing customers automating their security operations include large enterprises such as Box, Canva, OpenTable and Sophos. Tines plans on expanding its product beyond the scope of security automation in the coming year.

83% of security teams are already 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 these. Tines helps companies around the globe automate mundane, repetitive tasks, freeing up over-burdened engineers and analysts, and allowing them to focus on other activities. Its software helps to automate security workflows from the best parts of security orchestration, automation, and response, robotic process automation, and no-code/low-code engineering. By providing automatic ‘click and drag’ solutions, it helps organisations to free up analysts  from mundane, time consuming tasks and focus instead on high value, business-critical tasks that have more impact.

Tines software can integrate with anything with a rest API and web application to help organisations get more from existing tools and can be applied to almost every business across a wide range of sectors such as financial services, technology and pharmaceuticals.

The company intends to double its team to support product growth in the coming months. Expansion of its team in the US will involve establishing a hub in Boston as it actively recruits world-class talent across multiple areas, such as engineering, customer success and sales.

Emphasizing the need for organisations to implement no code solutions, founder Eoin Hinchy says: “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.”.

“Tines has quickly established itself as a market leader in enterprise automation,” said Lee Fixel, founder of Addition. “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.”