The Irish ‘soonicorn’ has upped its valuation with fresh expenditure for even more advancement.
Tines is extending its Sequence B funding with an additional $55m raised.
This new spherical was led by Felicis even though present buyers Accel, Blossom Cash, Addition and Lux Funds also took part.
“We genuinely believe that that automation is what has enabled us to mature and thrive with a leaner workforce and more streamlined operations,” explained Tines CEO and co-founder Eoin Hinchy. “We’ve worked definitely hard to become a sector chief, and now is not the time to slow down.”
Tines offers a no-code alternative for cybersecurity automation. It was launched by Hinchy and Thomas Kinsella in 2018 and, the subsequent 12 months, was determined as a single to look at by SiliconRepublic.com. Much more lately, Sifted cited Tines between the up coming 10 European begin-ups quickly to arrive at unicorn standing.
Hinchy mentioned that the new expenditure will be utilized to “double down” on go-to-marketplace attempts, as properly as R&D, partnerships and recruitment.
The CEO advised TechCrunch that the most up-to-date funding – which brings the commence-up’s overall lifted to $96.2m – ups the $300m valuation reached by the unique Series B round introduced final calendar year.
Tines has designed a group of additional than 150 persons throughout a amount of destinations around the world, together with its European headquarters in Dublin and its US HQ in Boston.
The firm is at present hiring for a selection of roles.
The funding announcement also disclosed that Tom Killalea has joined Tines as an unbiased board member. Killalea has been an angel investor in the begin-up due to the fact its early times. He is also a member of the board of Capital 1, Akamai Systems and Galway start off-up Orreco, and chair of the board of MongoDB.
At the time of its original Collection B announcement, Lee Fixel, founder of lead trader Addition, claimed that Tines has “quickly founded alone as a market place leader in organization automation” in the shorter time due to the fact its start.
This summer time, SiliconRepublic.com mentioned a dozen automation start off-ups capitalising on advancement in this field, like Tines and fellow Dublin start off-up Webio.
10 items you need to know immediate to your inbox each weekday. Signal up for the Every day Short, Silicon Republic’s digest of necessary sci-tech news.