Tines Secures $125M Funding to Supercharge AI-Driven Workflow Innovations
Tines, a leading AI-powered workflow automation company, has successfully raised $125 million in its Series C funding round, elevating its valuation to an impressive $1.125 billion. This significant funding will propel the company’s mission to enhance enterprise automation and efficiency.
Funding Details and Investors
The recent funding round was spearheaded by Growth Equity at Goldman Sachs Alternatives. New investors such as SoftBank Vision Fund 2 and Activant joined the ranks of existing backers, which include renowned firms like Accel, Felicis, CrowdStrike Falcon Fund, and Addition.
About Tines and Its Platform
Founded in 2018, Tines provides organizations with the tools to build, run, and manage critical workflows. Its platform is utilized by global giants including Coinbase, Databricks, GitLab, and Mars. The platform enhances security and IT operations, boosts productivity, and mitigates operational risks.
Growth in Automated Tasks
Over the past year, Tines has witnessed a remarkable surge in automated actions, with the number of tasks surpassing one billion weekly. The platform supports various use cases, including:
- Communication
- Security and Threat Intelligence
- Identity and Access Management
- Threat Detection and Response
- Data Analytics
- Email and Messaging Security
- DevOps
Future Plans and Innovations
The new capital will be directed towards accelerating AI-driven product development, with a focus on integrating large language models (LLMs) and automation tools into enterprise systems. Recently, Tines launched Workbench, a generative AI chat interface that empowers users to analyze data and perform tasks in real-time.
CEO Insights
Tines CEO Eoin Hinchy emphasized the increasing burden on IT and security teams due to manual tasks, stating, “Traditional automation tools often complicate rather than simplify their workload. Our goal at Tines is to connect teams with the necessary AI, data, and systems to optimize their performance.”
Market Outlook
According to Alexander Lippert, managing director at Goldman Sachs Alternatives, “Generative AI represents the next frontier in enterprise technology, significantly enhancing productivity across various business functions. Tines’ focus on secure workflows positions it as a crucial player in the widespread adoption of AI within organizations.”
This latest funding round follows a $50 million Series B extension in May 2024, bringing Tines’ total funding to an impressive $272 million.
For more information about Tines and its innovative solutions, visit their official website at Tines.
