附近上门

Dublin-based closed a $26 million Series B at a $300 million valuation, as the no-code automation company looks to double down on growth in North America.

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The new round was led by and included investment from and , as well as strategic investment from the and . The company says it has now raised a total of $41.1 million.

Tines tripled its revenue last year 鈥� even amidst a pandemic 鈥� as security teams adopted the company’s automated platform, which helps eliminate mundane and repetitive tasks for engineers and analysts without the need to write technical software or code. While the platform has proven effective for companies鈥� cybersecurity teams 鈥� typically overworked from receiving so many security alerts 鈥� the company is hoping to use the new money to move beyond security and push its platform into other areas like DevOps and IT.

鈥淏ecause the platform is flexible, we鈥檝e seen encouraging adoption outside of security,鈥� founder said.

The company anticipates growing from about 23 employees now to 60 by the end of the year, evenly split between Dublin and its U.S. hub in Boston as the company expands in the North American market, Hinchy said. About 80 percent to 90 percent of the company鈥檚 business comes from North America, he added.

No-code automation

Hinchy founded Tines in 2018, after spending about 15 years in cybersecurity. Overburdened by tasks such as copying data and jumping between networks, Hinchy said he started thinking about how to create an automated platform that anyone 鈥� not just software developers 鈥� could use.

The company does not release revenue figures or customer numbers, but says it helps automate thousands of workflows per day across a range of customers, including , and . About 25 percent of Tines鈥� customers already use the platform for more than just security.

鈥淚t’s very rare to find a company so early in its journey that has clear product-market fit,鈥� said , founder and partner at Blossom Capital.

Tines鈥� understanding of the challenges the customers face and the founders’ ambition made the company 鈥渙ne of those investments that every VC dreams of finding,鈥� Brown added.

The market

While and offer automation tools, they are more security-specific than Tines鈥� platform, which can be used in multiple departments, Hinchy said. The company feels it could be a large company if it stayed just in security, but can disrupt the entire enterprise application and software market as it helps automate more aspects of companies鈥� workflow, he added.

鈥淭he market for such a tool is practically limitless as there will always be new tasks that Tines can automate,鈥� Brown said. 鈥淲ith obvious public comps such as and soon , there is no question in our mind that Tines will one day be one of the most valuable enterprise companies in the world.鈥�

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