AI-based workflows Tines announced $125 million in Series C financing, valuing the company at $1.125 billion. The funding round was led by Growth Equity at Goldman Sachs Alternatives with participation from new investors SoftBank Vision Fund 2 and Activant and existing investors Accel, Felicis, CrowdStrike Falcon Fund, and Addition.
This funding follows a May 2024 $50 million Series B extension, bringing Tines’ total capital raised to $272 million. Tines will utilize this round of funding to accelerate product innovation focused on helping users connect AI software and LLMs with the data and systems they need to perform tasks at optimal efficiency and effectiveness while facilitating privacy and compliance safeguards required to ensure enterprise-grade security.
Tines enables teams to build, run, and monitor their most mission-critical and sophisticated workflows. And global leaders including Coinbase, Databricks, GitLab and Mars use Tines to transform their security and IT operations, dramatically enhancing productivity and streamlining operations while mitigating risk. This number of automated actions within the Tines platform has more than tripled over the past year, exceeding one billion tasks automated every week.
Tines recently launched native AI-based features and Workbench. This generative AI chat interface enables users to query, gather, and analyze information, take real-time action on data across applications, and determine the next steps.
KEY QUOTES:
“IT and security teams continue to face a deluge of manual and tedious tasks, and too often traditional automation tools further weigh them down instead of lifting them up. By connecting people to the AI, data and systems they need to do their best work, the opportunity before us at Tines is to become the universal orchestrator of modern, secure workflows across the enterprise. This new round will help us realize that opportunity.”
- Tines CEO Eoin Hinchy
“Generative AI is the next frontier of enterprise technology, driving significant productivity gains across multiple business functions. With a focus on building secure workflows at scale, Tines will play a critical role in providing the underlying infrastructure required to drive widespread adoption of AI across organizations. We’ve been highly impressed with the Tines management team and believe they are uniquely positioned to build a global leader in enterprise automation”
- Alexander Lippert, managing director in Growth Equity at Goldman Sachs Alternatives
“Since its founding in 2018, Tines has demonstrated exceptional growth by staying laser-focused on delivering tangible value to customers and building solutions tailored to their evolving needs. We are excited to partner with the Tines team as they execute on their vision, pushing the boundaries of automation, and bringing best-in-class workflow orchestration solutions to the entire enterprise.”
- Amit Lubovsky, investment director at SoftBank Investment Advisers
