Dublin-based cybersecurity automation company Tines has secured a $4.1m to help it build security tools with the world’s leading companies.
The firm has already attracted the Bank of Ireland, healthcare company McKesson and Auth0 as clients and has now secured the backing of Blossom Capital.
Founded in 2018 by Eoin Hinchy, with Thomas Kinsella joining this year, the Tines platform is designed to automate repetitive manual tasks, freeing security analysts to focus on high priority work.
Hinchy and Kinsella worked for more than 15 years at what they call the “most attacked companies on the planet”, including eBay, DocuSign and PayPal and recognised a need for a platform that could help security teams facing thousands of alerts and threats a day.
“There are three big problems in security: too much work, too many alerts and not enough staff,” said Hinchy.
“Inevitably there will be breaches in this situation. But 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.”
The firm claims one customer saved 300 hours a week by using its automation product.
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.”
Tines will use the Series A funds to hire engineers in Dublin for research and development and to build the customer base with companies in the US and in Europe.