Accel and Index back Tines, as the cybersecurity startup adds another $11M to its Series A

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It was simply a few months in the past that Tines, the cybersecurity automation startup, raised $4.1 million in Series A funding led by Blossom Capital, and now the Dublin-based firm is disclosing an $11 million extension to the spherical.

This extra Series A funding is led by enterprise capital agency Accel, with participation from Index Ventures and earlier backer Blossom Capital. The additional money can be used to proceed growing its cybersecurity automation platform and for additional growth into the U.S. and Europe.

Founded in February 2018 by ex-eBay, PayPal and DocuSign safety engineer Eoin Hinchy, and subsequently joined by former eBay and DocuSign colleague Thomas Kinsella, Tines automates a lot of the repetitive handbook duties confronted by safety analysts to allow them to give attention to different high-priority work. The pair had bootstrapped the firm as just lately as October.

“It was while I was at DocuSign that I felt there was a need for a platform like Tines,” defined Hinchy at the time of the preliminary Series A. “We had a team of really talented engineers in charge of incident response and forensics but they weren’t developers. I found they were doing the same tasks over and over again so I began looking for a platform to automate these repetitive tasks and didn’t find anything. Certainly nothing that did what we needed it to, so I came up with the idea to plug this gap in the market.”

To treatment this, Tines lets corporations automate components of their handbook safety processes with the assist of six software program “agents,” with every appearing as a multipurpose constructing block. The concept is that, no matter the course of being automated, it solely requires mixtures of those six agent varieties configured in several methods to replicate a specific workflow.

In addition, the platform doesn’t depend on pre-built integrations to work together with exterior programs. Instead, Tines is in a position to plug in to any system that has an API. “This means integration with commercial, off-the-shelf products, or existing in-house tools is quick and simple, with most security teams automating stories (workflows) within the first 24 hours,” says the startup. Its software program can be beginning to discover utility past cybersecurity processes, with a number of Tines prospects utilizing it in IT, DevOps, and HR.

“We heard that Eoin, a senior member of the security team at DocuSign (another Accel portfolio company), had recently left to start Tines, so we got in touch,” Accel’s Seth Pierrepont tells TechCrunch. “They were in the final stages of closing their Series A. However, we were so convinced by the founders, their product approach, and the market timing, that we asked them to extend the round”.

Pierrepont additionally factors out {that a} distinctive side of the Dublin ecosystem is that a lot of the world’s largest tech corporations have their European headquarters in the nation (usually attracted by comparatively low company tax), “so it’s an incredibly rich talent pool despite being a relatively small city”.

Asked whether or not Accel views Tines as a cybersecurity automation firm or a extra basic automation play that places automation in the palms of non-technical workers for a mess of potential use instances, Pierrepont says, given Hinchy and Kinsella’s backgrounds, the cybersecurity automation sector needs to be the main focus for the firm in the quick time period. However, long term it’s possible that Tines can be adopted throughout different capabilities as properly.

“From our investment in Demisto (which was acquired by Palo Alto Networks earlier this year), we know the security automation or SOAR category (as Gartner defines it) very well,” he says. “Demisto pioneered the category and was definitively the market leader when it was acquired. However, we think the category is just getting started and that there is still a ton of whitespace for Tines to go after”.

Meanwhile, in lower than a yr, Tines says it has on-boarded 10 enterprise prospects throughout a wide range of industries, together with Box, Auth0 and McKesson, with corporations automating on common 100 thousand actions per day.