Tines Secures $125M in Series C Financing, Bringing Total Valuation to $1.125B
Rhea-AI Summary
Tines, an AI-powered workflow company, has secured $125 million in Series C financing, achieving a valuation of $1.125 billion. The round was led by Growth Equity at Goldman Sachs Alternatives, with participation from new investors SoftBank Vision Fund 2 and Activant, alongside existing investors. This follows a $50M Series B extension in May 2024, bringing total capital raised to $272 million.
The company's platform, used by major companies like Coinbase, Databricks, and GitLab, has seen significant growth with automated actions more than tripling over the past year, now exceeding one billion tasks automated weekly. Tines recently launched native AI features and Workbench, a generative AI chat interface. The funding will be used to accelerate product innovation, focusing on connecting AI software and LLMs with enterprise data systems while maintaining security compliance.
Positive
- Achieved unicorn status with $1.125B valuation
- Secured significant Series C funding of $125M led by Goldman Sachs
- Platform usage growth: over 1 billion weekly automated tasks
- Strong customer base including major tech companies
- Total funding raised reached $272M
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, GS declined 0.51%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Led by Growth Equity at Goldman Sachs Alternatives with SoftBank Vision Fund 2 and Activant joining as new investors, funding to be used to accelerate AI product innovation
Tines empowers teams to build, run, and monitor their most mission-critical and sophisticated workflows. Global leaders including Coinbase, Databricks, GitLab and Mars use Tines to transform their security and IT operations, dramatically enhancing productivity and streamlining operations while mitigating risk. The number of automated actions within the Tines platform has more than tripled over the past year, exceeding one billion tasks automated every week.
"IT and security teams continue to face a deluge of manual and tedious tasks, and too often traditional automation tools further weigh them down instead of lifting them up," said Tines CEO Eoin Hinchy. "By connecting people to the AI, data and systems they need to do their best work, the opportunity before us at Tines is to become the universal orchestrator of modern, secure workflows across the enterprise. This new round will help us realize that opportunity."
Tines recently launched native AI features and Workbench, a generative AI chat interface that enables users to query, gather and analyze information, take real-time action on data across applications, and determine next steps. Tines will use this round of funding to accelerate product innovation focused on helping users connect AI software and LLMs with the data and systems they need to perform tasks at optimal efficiency and effectiveness, while also facilitating privacy and compliance safeguards required to ensure enterprise-grade security.
"Generative AI is the next frontier of enterprise technology, driving significant productivity gains across multiple business functions. With a focus on building secure workflows at scale, Tines will play a critical role in providing the underlying infrastructure required to drive widespread adoption of AI across organizations" said Alexander Lippert, managing director in Growth Equity at Goldman Sachs Alternatives. "We've been highly impressed with the Tines management team and believe they are uniquely positioned to build a global leader in enterprise automation"
"Since its founding in 2018, Tines has demonstrated exceptional growth by staying laser-focused on delivering tangible value to customers and building solutions tailored to their evolving needs," said Amit Lubovsky, investment director at SoftBank Investment Advisers. "We are excited to partner with the Tines team as they execute on their vision, pushing the boundaries of automation, and bringing best-in-class workflow orchestration solutions to the entire enterprise."
To learn more about how companies across industries are using Tines to transform how their teams operate, visit www.tines.com/case-studies/.
About Tines
At Tines, we're building a future where technology empowers businesses and people to work smarter and more securely. Leaders across a wide array of industries, including Canva, Elastic, Kayak, Intercom, McKesson and Oak Ridge National Laboratory use Tines' AI-powered workflows to operate more effectively, mitigate risk, reduce tech debt, and do the work that matters most. Co-headquartered in
About Growth Equity at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has more than
Since 2003, Growth Equity at Goldman Sachs Alternatives has invested over
Media Contacts:
Jason Fidler
Tines
jfidler@tines.io
Danielle Stickler
Bateman Agency for Tines
tines@bateman.agency
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SOURCE Tines
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