Dublin-based cybersecurity automation company Tines has secured a $4.1 million Series A funding round. The fresh funds will allow the cybersecurity startup to build its security tools with the world’s leading companies.
Tines already has an impressive list of clients, including Bank of Ireland, healthcare company McKesson and Auth0, and now the startup has also secured the backing of Blossom Capital.
Tines was founded in 2018 by Eoin Hinchy, who was joined earlier this year by Thomas Kinsella. The Tines platform is the culmination of the pair’s decades of experience in cyber security at some of the largest companies in Silicon Valley’. Tines automates repetitive manual tasks, meaning security analysts are freed up to focus on high priority work.
Hinchy and Kinsella founded Tines after working for more than 15 years at what they described as some of the “most attacked companies on the planet”, including eBay, DocuSign and PayPal.
Eoin Hinchy said: “There are three big problems in security: too much work, too many alerts and not enough staff. Recent research showed that there would be 1.8 million unfilled cyber security jobs in Europe by 2022. Inevitably there will be breaches in this situation.
“By automating repetitive work, cyber teams can re-focus on higher impact activities dramatically increasing their efficiency and their ability to respond to incidents and attacks.”
Imran Ghory, partner at Blossom Capital added: “We are delighted to be working with Tines which is exactly the sort of company that we want to invest in. Eoin and Thomas weren’t looking for funding but they so impressed us with the quality of the product and their ambition in going after global customers that we knew we wanted to work with them.
“Their company aligns with our vision to back European firms that are using technology in ways to bring innovation to the global enterprise sector.”