No-code security automation firm Tines has raised $26 million in a Series B funding round, with the 18 person company now valued at $300 million.
The round was led by Lee Fixel’s Addition and saw follow-on funding from Accel and Blossom Capital. Tines also counts CrowdStrike’s Falcon Fund and Silicon Valley CISO Investments as backers as well.
To date, the firm has raised $41.1 million in funding.
The fresh round of funding is expected to double the company’s headcount as well as establish a US-based hub in Boston where Tines is aggressively recruiting engineering, customer success, and sales positions.
With 83% of enterprise-level security teams overwhelmed with the number of alerts they receive on a daily basis due to false positives, Tines is seeking to eliminate the need for high-level engineers to spend time attending to them.
Tines helps clients including Box, Canva, OpenTable, and Sophos to automate mundane, repetitive tasks, thus freeing up engineers’ time for more important and mission-critical activities. The platform can integrate with any existing tool with a rest API and web application and can be applied to just about every business sector.
“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,” comments Tines co-founder Eoin Hinchy. “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 organisations.”
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