Dublin-based cybersecurity automation company Tines has secured a $4.1 million Series A funding round to help it build its security tools with the world’s leading companies.
Tines has already attracted 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 brings decades of experience in security at some of Silicon Valley’s biggest companies together in a product that automates repetitive manual tasks, thereby 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.
Based on their experience they recognised a need for a platform that security teams could use to improve their workflow and created a product that would have helped them when facing thousands of alerts and threats a day.
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.
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“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.”