Irish security automation startup Tines has bagged another $50 million in venture capital funding as investors continue to make big bets on companies in the workflow automation and orchestration space.
The new $50 million raise is an extension to the company’s Series B round that was raised at a valuation north of $300 million. Tines is backed by Accel, Felicis, Addition, the CrowdStrike Falcon Fund and SVCI.
Tines, which maintains offices in Dublin and Boston, has raised a total of $146.2 million and has found traction with a no-code platform that promises to unlock new levels of efficiency through a combination of workflow automation, orchestration, and AI.
Without sharing details, the company said its ARR (annual recurring revenue) grew by more than 200% since its last funding in October 2022.
The company said the new capital will be used to power an innovation roadmap to make the platform easier to use and help customers realize meaningful value quickly.
Tines has developed a platform that enables non-technical employees to automate simple and repetitive tasks in an effort to save software engineers and other more technical employees valuable time.
The company says anyone can learn to use its platform in roughly 3 hours, enabling users to easily automate processes and integrate tools, tasks that often require support from technical staff. Tines says its product aims to address issues in areas where it’s difficult to find and retain staff due to repetitive and low-fulfillment work.
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