Startup Tines has announced that it has raised $11m in Series A funding to further its efforts in the cybersecurity automation space.
The funding round was led by global venture capital firm Accel, with additional funding coming from Index Ventures and Blossom Capital.
Go deeper with GlobalData
The funding follows a $4.1m investment in October, demonstrating the growing enthusiasm for automation technologies in cybersecurity.
Tines creates tools that are designed to automate repetitive, manual tasks undertaken by cybersecurity professionals.
This is an area with key market demand given the piecemeal nature of many cybersecurity processes and the strain on teams, which has been exacerbated by a significant cybersecurity skills shortage.
Tines investment shows market enthusiasm for cybersecurity automation
Founded in 2018 by Eoin Hinchy and Thomas Kinsella, Tines has already attracted 10 enterprise customers, including leading enterprise storage provider Box.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“Automation has been a key part of Box’s cyber threat detection and response capabilities over the last few years,” said Tristan Waldear, security automation manager at Box.
“We chose Tines because it complements our existing environment perfectly – its intuitive automation story concept gives our incident responders desired control of workflow design; yet its flexibility allows us to seamlessly layer it on top of what we have already built.”
The investment will enable Tines to further expand its market reach, with a focus on the US and Europe. This will include expanding both commercial and engineering teams, including establishing in-house research and development programmes.
“Having spent more than a decade as security operators, Eoin and Thomas have a deep understanding of and appreciation for the pain points that security teams are facing today,” said Seth Pierrepont from Accel.
“We believe automation has become a ‘must-have’ tool within enterprise security operations, and Tines’ easy-to-implement and customise approach positions it well to very quickly become a category leader.”
Read more: Element AI nets £123m to advance enterprise artificial intelligence
