Cyber Security Automation Company Teeth raised €54 million in funding, bringing total capital raised to approximately €90 million.
In the latest round, conducted in August, start-up Rathmines brought in existing investor Felicis of California for $29.7 million, while previous investors Blossom Capital and Lux Co-Invest Opportunities each invested $10. millions of dollars.
Tines was created by Eoin Hinchy (39) and Thomas Kinsell (35) in 2018.
The company develops “no-code” software that enables employees to automate security workflows, and its customer base includes Fenergo, MongoDB, Coinbase, Sophos and McKesson.
Other backers include VC Addition Two in New York, Accel in Palo Alto and Tacito in Stockholm. In April 2021, the company raised €22.2 million in venture capital.
In a blog post on the Tines website, CEO Eoin Hinchy said: “It is a difficult time for many businesses at the moment and we have yet to see the full impact of the global economic downturn.
“With this, we feel fortunate to be able to double down on our mission to help new and existing customers unlock the power of automation and move from reactive to proactive.
“We have worked very hard to become a market leader, and now is not the time to slow down. We will use this investment to double our go-to-market, research and development and partnership alliance efforts, and continue to focus ruthlessly on our priorities.
According to Hinchy, Tines’ current workforce is 150 employees working across four continents, 13 US states and 10 time zones.
Tines product aims to reduce time to detect suspicious activity and respond to alerts, and help customer process hundreds of thousands of workflows per year and lead leaner teams
Tines Security Services Ltd raised €13.8 million in venture capital in 2019 and recorded a loss of €2.3 million in 2020.
Pictured: Tines founders Eoin Hinchy (left) and Thomas Kinsella