Tines, a leading provider of smart, secure workflow solutions, today announced an impressive $50m in new financing.
This capital injection marks an extension to its Series B round, which was prominently led by Accel and Felicis, with additional participation from Addition, CrowdStrike Falcon Fund, and SVCI—all of whom are pre-existing investors in the company. To date, this funding escalates Tines’ total capital raised to $146.2m.
The company has been on a strong growth trajectory, with its Annual Recurring Revenue (ARR) for the fiscal year 2024 soaring by over 100 percent—an increase of more than 200 percent since its last funding round in October 2022. This growth has been accompanied by a 30 percent increase in employee headcount. Tines is a pivotal player in the FinTech sector, facilitating significant advancements in workflow automation for companies ranging from startups to Fortune 10 giants.
Eoin Hinchy, co-founder and CEO at Tines, expressed the company’s focused vision and the impact of the new funding, “Tines’ mission is to power the most important workflows for companies worldwide. These funds allow us to double down on areas we’ve seen much success, maintain our leadership position in security, and continue our strategy to automate complex technical workflows for multiple departments across the enterprise.”
The company also plans to address common organisational challenges such as employee burnout and costly human errors by enabling new levels of efficiency through workflow automation, orchestration, and AI innovations. This initiative is driven by direct feedback from customers, aimed at making the platform more user-friendly and quickly delivering meaningful value.
Luca Bocchio, partner at Accel, reminisced about the company’s origins and its promising future, “When we led Tines’ Series A in 2019, Eoin and Thomas had spent more than a decade as security operators, experiencing the inefficiencies and tedious manual tasks faced by teams everywhere firsthand.
“The Tines team is now going after the broader opportunity of powering the most important and mission critical workflows for global businesses. We believe Tines represents the future for workflow automation in security and beyond and we look forward to the journey ahead.”
Looking forward, Tines is set to continue addressing the needs of large-scale operations for global enterprises, as well as federal government and public sector customers. This announcement builds on the company’s recent momentum, including the doubling of partners in its Channel Partner Program in 2023, the expansion of its platform’s focus to encompass more organizational teams, and its recent product innovations, notably the release of new AI-powered features.
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