Fresh off the back of a €3.6 million investment in October, Tines – the Dublin-based cybersecurity automation company – is announcing it has raised a further €9.9 million in Series A funding led by global venture capital firm Accel. Index Ventures and Blossom Capital also participated.
Founded in 2018 by Eoin Hinchy and Thomas Kinsella, Tines makes the lives of enterprise security teams easier by equipping them with the tools they need to automate repetitive, manual tasks.
The challenges security teams face today are well understood: understaffed teams, scattered tools, and disconnected processes. As a result, the speed at which teams can respond to security alerts has come under pressure. Tines helps mitigate this by automatically gathering intelligence from disparate systems to enrich and triage alerts. Their platform is intuitive and easy-to-use, without requiring any scripting or development knowledge.
The key differentiator between Tines and its competitors is that it can be integrated with any tool that has an API, meaning that most security teams can automate stories (workflows) within the first 24 hours. Additionally, Tines allows security analysts to automate their own unique processes and workflows through a simple set of drag-and-drop building blocks. Tines’ approach also means that it is not limited to security use cases; several of its customers are already using Tines beyond security in IT, DevOps, and HR.
In under a year, Tines has onboarded 10 enterprise customers across a variety of industries, including Box, Auth0 and McKesson, with companies automating on average 100 thousand actions per day.
The investment will be used to expedite Tines’ further expansion into the US and Europe. The company has started building up its commercial and engineering teams, including in-house research and development programs to ensure Tines remains on the leading edge of the ever-changing security landscape.
Seth Pierrepont from Accel said: “Having spent more than a decade as security operators, Eoin and Thomas have a deep understanding of and appreciation for the pain points that security teams are facing today. We believe automation has become a ‘must-have’ tool within enterprise security operations, and Tines’ easy-to -implement and -customize approach positions it well to very quickly become a category leader.”
Shardul Shah from Index Ventures said: “We are delighted to support Eoin and Thomas. Their deep dedication to customers has enabled an outwardly simple solution to a complex set of problems. The need is consistent across every enterprise regardless of its sector, industry, location or language.”