Mr Hinchy said the company planned to double down on research and development, partnerships and getting products to market.
“We’ve worked really hard to become a market leader, and now is not the time to slow down; we believe the need for no-code automation has never been greater,” he said. “We’ll use this investment to double down on our go-to-market efforts, research and development, and partnership alliances, and continue to ruthlessly focus on our priorities,” he said.
Tines employs more than 150 people across four continents, a number that is set to grow in the coming months. The company last raised money in April 2021, when backers Addition, Accel, Blossom, CrowdStrike and angel investor group Silicon Valley CISO backed its Series B round. That gave it a market valuation of $300 million.
“We are excited to be partnering with Eoin, Thomas, and the Tines team in their next phase of growth,” said Aydin Senkut, founder and managing partner of Felicis. “As the global economy weakens, many businesses are having to rethink their strategies and contend with fewer resources and leaner teams. Security is a key challenge that needs to be met head-on as cyberattacks continue to increase in volume and sophistication.