Tines Series-B

This is the Tines pitch deck to raise a $26m series-b round in 2021.

About

Tines is an enterprise automation platform designed to help security and ops teams automate manual workloads. With 1,000+ template options for common security actions, Tines is power and simplicity through direct integration with your existing tools. The company was founded in 2018 and is headquartered in Dublin.

Dublin-based no-code automation startup Tines has just raised $26 million in fresh funding as it accelerates its US expansion.

Founded in 2018 by Eoin Hinchy and Thomas Kinsella, Tines provides automation tools design to help with workplace friction, removing cumbersome manual processes in areas such as cybersecurity, allowing employees to focus on critical tasks. Tines works with major startups like Coinbase and Canva as well as smaller entities to improve their workplace security automation.

“We’re seeing a shift to decentralized enterprise applications,” Hinchy, Tines CEO told Insider in an interview. “Part of that is demand from the people who are closest to those applications who want to be empowered to do the work themselves.”

Tines’ funding round was led by New York-based fund Addition and follows am $11 million Series A in December 2019 from Accel, Index Ventures, and Blossom Capital.

The round takes Tines to a $300 million valuation and $41.1 million raised to-date. Tines also received strategic investment from cyber security backers, CrowdStrike (via its Falcon Fund) and Silicon Valley CISO Investments.

The startup signed the term sheet in mid-January with Addition before closing the round at the end of March. Tines will use the funding to continue its US expansion plans, the business opened an office in Boston, MA recently and will hire around 10 staff to work on onboarding new customers in North America.

“We still have 90% of our Series A in the bank,” Hinchy added. “But we decided to raise now while we have this momentum. In terms of our deployment of capital this doesn’t change much for 2021 but means we can really double down on our go-to-market strategy in 2022.”

Tines had four employees at the start of the coronavirus pandemic and now has 18. Funding will also go towards building out the company’s sales and partnership teams both in Europe and the US.

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