Tines Secures $125 Million in Funding, Reaching $1.13 Billion Valuation for AI-Powered Automation Platform

Tines' AI-Powered Automation Offering Valued at $1.1 Billion After $125 Million Fundraise | PYMNTS.com

Tines Security Service reportedly reached a $1.13 valuation after raising $125 million. The company will use the funding -- from a round led by Goldman Sachs' growth equity unit -- to "double down on R&D," CEO Eoin Hinchy said, according to a Bloomberg report Tuesday (Feb. 11). "That's the main thing." Tines is among hundreds of startups trying to tap artificial intelligence to revolutionize traditional business functions, the report said. In this case, that means developing AI software to automate tasks for things like cybersecurity. Venture investors are eager to back such startups, which could reap the benefits of lower costs promised by cheaper AI models from the likes of China's DeepSeek. "DeepSeek challenges the narrative that innovation must come at an unsustainable cost," Gokul Naidu, a consultant with SAP, said in an interview with PYMNTS last month after the AI startup began making headlines. "For businesses, this means AI could soon be accessible to small and medium enterprises, not just tech giants with deep pockets." Tines, which is based in Dublin and has an office in Boston, increased its yearly recurring revenues to "tens of millions of dollars," while adding customers like Canva, Databricks and Oak Ridge National Laboratories, Hinchy said, per the report. Tines' new funding comes as AI is emerging as a force in enhancing business processes. Companies are relying on AI to automate not only repetitive tasks, but also more complicated processes such as compliance monitoring, fraud detection and supply chain optimization, using tactics like combining robotic process automation (RPA) with AI to streamline workflows. "The back office has long been overlooked in conversations about innovation, but its transformation is no longer optional," PYMNTS wrote in January. With rising uncertainty, regulatory complexities and competitive pressures, companies are seeking ways to streamline operations, improve decision making and unlock efficiencies. The PYMNTS Intelligence report "Outlook 2025: CFOs Envision Growing Role for Generative AI in Finance" found that more than 60% of chief financial officers are using generative AI for strategic and financial tasks, with the same number of finance chiefs employing the technology to create data visualizations and reports to make complex financial data clearer and more accessible. "Incorporating data into the money flow will provide significant improvements for businesses...," Seamus Smith, executive vice president and group president at FIS, told PYMNTS last month.

Tines nabs $125M for its AI-powered workflow automation platform - SiliconANGLE

Tines nabs $125M for its AI-powered workflow automation platform Tines Security Service Ltd., a startup with a platform for automating multistep tasks such as configuring cloud instances, has raised $125 million in funding. The company said in its announcement of the Series C round today that Goldman Sachs was the lead investor. It was joined by more than a half dozen other backers including SoftBank Group Corp.'s Vision Fund 2 and CrowdStrike Falcon Fund. The raise comes less than a year after a $50 million round that reportedly valued Tines at $600 million. Tines' namesake software platform enables workers to create automation workflows in a drag-and-drop interface. Those workflows can collect data from a company's internal systems, as well as take actions based on the data. Tines uses artificial intelligence models to perform some of the steps involved in the process. According to the company, one of the tasks that its platform eases for customers is processing support tickets. A help desk team could create a workflow that extracts key details from each support ticket and generates a brief natural language summary. For added measure, the workflow could be configured to rank support requests based on their urgency. The platform can optionally enrich the data in a ticket with information from other sources. If a user opens a ticket about a server malfunction, Tines could collect system logs from the affected machine to ease troubleshooting for administrators. Moreover, the platform can generate code if extracting the needed system logs requires writing a custom script. Infrastructure configuration is another task that Tines promises to streamline. Using the platform, developers can create workflows that automate chores such as creating cloud instances and updating the software they run. Alongside workflows that perform tasks autonomy, Tines provides a chatbot interface called Workspaces. It enables users to manually specify what tasks the platform should perform using natural language prompts. Another specialized tool, Cases, promises to help cybersecurity teams respond to breaches faster. It aggregates data from a company's cybersecurity tools in a centralized interface. A checklist shows the steps that administrators should take in response to a breach alert, such as mapping out what systems are affected. Cases also includes an analytics dashboard that displays high-level data about a company's cybersecurity efforts. It tracks the number of breach alerts that Tines receives per day, the mean time to resolution and related metrics. Companies with advanced requirements can create custom dashboards for monitoring their technology assets. Tines counts Databricks Inc., Snowflake Inc. and other large enterprise tech firms among its users. The company says that the number of automation actions relegated to its platform has tripled over the past year to more than one billion per week. "Two-thirds of our customers are now using the AI features we launched in 2024, including Workbench," Tines co-founder and Chief Executive Officer Eoin Hinchy wrote in a blog post. Tines will use the proceeds from its new funding round to extend its platform's AI features to more tasks. Additionally, the company plans to enhance its cybersecurity capabilities. Hinchy detailed that the company will release 250 new features in 2025.

Goldman, SoftBank Back AI Startup Tines Valued at $1.13 Billion

Goldman Sachs Group Inc.'s growth equity unit led a $125 million funding round for software startup Tines Security Services Ltd., valuing the startup at $1.13 billion -- and underscoring investors' appetite for artificial intelligence-powered business tools. The deal boosted Tines' valuation by more than 80% from its previous value of $600 million last year. Other investors included SoftBank Group Corp.'s Vision Fund 2, investment firm Activant Capital and Accel.