CEO and co-founder Eoin Hinchy. Image: Tines
With annual recurring revenue doubling in its latest fiscal year, Tines has been steadily growing its headcount across its offices in Dublin, Boston and San Francisco.
Tines, the no-code automation start-up dually based in Dublin and Boston, has raised $50m in an extended Series B funding round led by Accel and Felicis.
In an announcement yesterday (24 April), Tines said that the latest investment will enable the company to improve its product and help a wide range of clients – from start-ups to multinationals – to enhance their workflow automation with AI.
Founded by Eoin Hinchy and Thomas Kinsella in 2018, Tines has been anticipated as one of Europe’s next unicorns and is a previous SiliconRepublic.com Start-up of the Week.
The latest round is an extension of a previous Series B funding in which it raised $26m. Tines then went on to raise another $55m in an extension, before raising the latest investment. Backers of the most recent round include Addition, CrowdStrike Falcon Fund and SVCI.
“Tines’ mission is to power the most important workflows for companies worldwide,” said Hinchy, who is the CEO.
“These funds allow us to double down on areas we’ve seen much success, maintain our leadership position in security and continue our strategy to automate complex technical workflows for multiple departments across the enterprise.”
Tines said that its annual recurring revenue grew by more than 100pc in its latest fiscal year – and by more than 200pc since its last funding round in October 2022. The company has also increased its headcount by 30pc.
Now, it is hiring across all departments, including engineering, product, operations, sales and marketing. Jobs are available at the start-up across its Dublin, Boston and San Francisco offices.
“When we led Tines’ Series A in 2019, Eoin and Thomas had spent more than a decade as security operators, experiencing the inefficiencies and tedious manual tasks faced by teams everywhere firsthand,” said Luca Bocchio, partner at Accel.
“The Tines team is now going after the broader opportunity of powering the most important and mission critical workflows for global businesses. We believe Tines represents the future for workflow automation in security and beyond and we look forward to the journey ahead.”
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