Agentic AI,
Artificial Intelligence & Machine Learning,
Data Privacy
Workflow Automation Firm Secures $1.125B Valuation, Aims for AI-Driven Expansion
Tines, a workflow automation platform led by industry veterans from DocuSign, eBay, and Deloitte, has successfully raised $125 million to enhance mission-critical enterprise functions via agentic AI. Based in Dublin, Ireland, the company is navigating a strategic path to expand its AI-driven automation beyond security into various domains including IT, infrastructure, and operations.
Tines achieved a valuation of $1.125 billion following its Series C funding, a milestone that co-founder and CEO Eoin Hinchy describes as a significant asset when engaging Fortune 100 companies and substantiates the value Tines provides to its clientele.
“We see vast opportunities ahead,” Hinchy shared with Information Security Media Group. “Having celebrated our seventh anniversary, we are positioned at an optimal moment to capitalize on growth, evidenced by our record increase in customer numbers and revenue.” He adds that usage metrics for their platform have also reached unprecedented levels in the previous year.
The Role of Goldman Sachs as Lead Investor
Since its inception in 2018, Tines has employed 364 staff under Hinchy’s leadership, who brings ten years of experience from key positions at DocuSign, eBay, and Deloitte. This latest funding round follows a previous $50 million Series B extension and another $55 million Series B effort, cumulatively bringing the total funds raised by Tines to $272 million. Such investment is crucial as it facilitates scalability in operations and innovation, alongside bolstering product development and global expansion potential.
“Currently, we’re achieving over a billion automated actions weekly for our customers,” said Hinchy. “This growth signifies an immense opportunity to fortify our resources strategically.” The Series C investment, spearheaded by Goldman Sachs’ growth equity arm, offers Tines unique access to critical decision-makers in enterprise IT and cybersecurity realms, an essential aspect for tapping into larger strategic markets.
AI Preparedness for Vital Operations
As concerns about AI usage among employees rise, Tines offers enterprises a secure, private framework for AI implementation. “CISOs express significant anxiety regarding the risks associated with AI tools”, Hinchy noted. Tines addresses these concerns by providing an environment that avoids data leakage, unauthorized access, and compliance violations, without utilizing sensitive data for fine-tuning AI processes.
The current landscape sees AI largely orchestrated by human input; however, Tines is steering towards the development of autonomous systems capable of minimal human oversight. Building trust in agentic AI remains a fundamental challenge, necessitating transparency in decision-making to meet deterministic standards, particularly in mission-critical workflows like cybersecurity.
While Tines initially focused its automation services on security, Hinchy highlighted that now approximately 30% of its customer base utilizes the platform for diverse IT, infrastructure, and operational workflows. The company aims to widen this scope further within the next 12 to 18 months, strategically aligning its product marketing and sales efforts to reach new customer segments outside traditional security applications.
In summary, while Tines reinforces its commitment to enhancing security operations, there is a clear intent to strategically approach additional mission-critical sectors, encompassing IT, infrastructure, and operational teams, thus enriching its market presence and enhancing the overall value proposition for a broader audience.
