Dublin-based Tines, a workflow and AI orchestration platform announced that it has secured $125M (approximately €120M) in a Series C funding round, valuing the company at $1.125B (approximately €1B).
The latest 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.
Goldman Sachs is one of the investors in alternatives globally, with over $500B in assets and more than 30 years of experience.
The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds.
“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 organisations” says Alexander Lippert, managing director in Growth Equity at Goldman Sachs Alternatives.
The announcement comes around ten months after raising €46.60M in an extension to its Series B round. The latest funding round brings the total capital raised by Tines to $272M (approximately €262M).
Tines will use this funding to enhance its products, enabling users to integrate AI software and large language models (LLMs) with essential data and systems for maximum efficiency.
The focus will also be on ensuring privacy and strong security compliance.
Tines: Workflow and AI orchestration platform
Founded in 2018 by Eoin Hinchy and Thomas Kinsella, Tines provides a workflow platform empowering every team member with robust automation and orchestration capabilities.
Recently, the company launched native AI features and Workbench, a generative AI chat interface that enables users to query, gather, and analyse information, take real-time action on data across applications, and determine the next steps.
As per the company’s claims, the number of automated actions within the Tines platform has more than tripled over the past year, exceeding one billion tasks automated every week.
Various reputed companies, including Coinbase, Databricks, GitLab, and Mars use Tines to transform their security and IT operations, enhancing productivity and streamlining operations while mitigating risk.
“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,” says Tines CEO Eoin Hinchy.
“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 realise that opportunity,” adds Hinchy.
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