Dublin startup Tines raises €22m at €252m valuation

The ‘no code’ software firm, founded by Eoin Hinchy and Thomas Kinsella three years ago, attracted the attention of the Spotify investor Lee Fixel.

Tines cofounders Eoin Hinchy (CEO) and Thomas Kinsella (COO)

Adrian Weckler Twitter Email

April 08 2021 02:08 PM

The Dublin-based software company Tines has raised $26m (€22m) valuing it at $300m (€252m).

Times allows other companies to automate processes such as customer service and security issues without needing technical skills.

It was co-founded in 2018 by Eoin Hinchy and Thomas Kinsella, who say the cash will allow them double their 18-person workforce and open a Boston office.

The funding is led by Addition, a recently-established $1.4bn created by Lee Fixel, who previously invested in Spotify and Peloton on behalf of Tiger Global.

Tines has now raised a total of $41.1m (€34.6m) in funding from investors including Accel and Blossom Capital. CrowdStrike and Silicon Valley CISO Investments are also invested in the company.

“The majority of progress in this space still requires non-technical teams to depend on software engineers to implement their automation,” said Eoin Hinchy, cofounder and CEO of Tines. “Other platforms are generally either too hard to use, not flexible enough or not sufficiently robust for mission-critical workflows like cybersecurity.”

The startup’s customers now include Coinbase, Box and OpenTable.

Before Tines, Mr Hinchy, a DCU graduate, spent 15 years working in security at companies including eBay, PayPal and DocuSign.

Cofounder and COO Thomas Kinsella’s previous CV includes lead roles in security teams in Deloitte, eBay and DocuSign.

The company claims that 83pc of security teams “are already overwhelmed” by the volume of alerts they receive on a daily basis “with false positives taking up large amounts of time”.

Its ‘no-code’ automation software “simplifies implementation, lowering the barriers to entry for non-technical employees, making it easier to integrate tools and automate processes that would previously require support from over-qualified and in-demand software engineers, while also reducing costs”.