April 24, 2024 at 10:15AM
Tines, an Irish security automation startup, has secured an additional $50 million in funding, bringing its total funding to $146.2 million. The company’s no-code platform, which focuses on workflow automation, orchestration, and AI, has driven a 200% increase in annual recurring revenue. The new funds will be used to enhance the platform and deliver quick value to customers.
From the meeting notes, I have distilled the key points as follows:
– Tines, an Irish security automation startup, has secured an additional $50 million in venture capital funding to extend its Series B round, bringing the total raised to $146.2 million.
– The company, headquartered in Dublin and Boston, has seen a substantial increase in its annual recurring revenue (ARR), growing by over 200% since its last funding round in October 2022.
– Tines plans to utilize the new capital to further develop its platform, with a primary focus on enhancing user experience and enabling customers to swiftly achieve measurable value.
– Tines has designed a no-code platform to empower non-technical personnel to streamline simple and repetitive tasks, thereby freeing up technical resources for more complex endeavors.
Additionally, the company emphasizes that its product aims to address challenges in areas where there is difficulty in retaining staff due to mundane and unsatisfying work.