<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Tines, a cybersecurity-focused workflow automation platform, has secured USD 50 million in an extension of its Series B funding round led by Accel and Felicis. In addition, CrowdStrike Falcon Fund and SVCI participated in this round, which brings the company's total funding to just over USD 146 million and reportedly gives it a post-money valuation of USD 600 million.
      </p>
    </li>
    <li>
      <p>
        Tines plans to utilize the fresh funds to further enhance its functionalities for collaborative workflows and hire new team members across engineering, product, operations, sales, and marketing. Notably, the company also announced that it had grown its annual recurring revenue (ARR) by over 200% in the last 18 months.
      </p>
    </li>
    <li>
      <p>
        Tines is a Dublin-based startup building workflow automation tools for cybersecurity to address the widening cybersecurity skills gap. The company&rsquo;s flagship product is a no-code automation platform designed to enable the automation of complex tasks, including threat detection, response, and vulnerability management, with minimal programming knowledge.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.prnewswire.com/news-releases/tines-announces-50-million-in-new-financing-302124992.html">
      Press release
    </a>
  </p>
  <p>
    <a href="https://techcrunch.com/2024/04/24/tines-taps-50m-to-expand-its-workflow-automation-beyond-security-teams/">
      TechCrunch
    </a>
  </p>
  <p>
  </p>
</div>


Workflow Automation Platforms

<div>

 <p>Tines, a Dublin-based cybersecurity workflow automation platform startup, has secured $50 million in an extension to its Series B funding round. The financial injection was led by Accel and Felicis, with participation from CrowdStrike Falcon Fund and SVCI. This investment brings Tines' total funding to over $146 million, reportedly giving it a post-money valuation of $600 million.</p>
 
 <p>The fresh funds will be used to enhance features for collaborative workflows and expand staff across various departments. These include engineering, product, operations, sales, and marketing sectors. Tines also announced impressive progress, with its annual recurring revenue (ARR) having grown by over 200% within just 18 months.</p> 
 
 <p>The startup's primary product offering is a no-code automation platform. This tool allows for the automation of intricate tasks such as threat detection, response, and vulnerability management, without the need for extensive programming knowledge. By building such tools, Tines aims to bridge the increasing cyber security skills gap. </p>

</div>

Tines raises USD 50 million in Series B funding extension

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 
 <p>At its global conference, Relate, customer service platform Zendesk unveiled a new customer service automation solution powered by AI, named Zendesk AI.</p>
 <p>The AI offering includes autonomous AI agents able to interact with customers automatically, handle inquiries, and leverage workflow automation tools. In addition, its GenAI copilot uses historical conversation data to support human agents in enhancing customer interactions. </p>
 <p>Zendesk AI features personalized intents for a superior understanding of customer requirements and GenAI tools can effectively manage knowledge bases. AI reporting is available for monitoring key performance indicators. According to Zendesk, the tool is capable of automating nearly 80% of customer service requests, potentially reducing resolution times by 30%.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> &nbsp;While not explicitly disclosed, the launch of Zendesk AI seems to have directly resulted from the company’s <a href="https:<br>
//sp-edge.com/updates/27553"> recent acquisition of Ultimate </a> , a GenAI-powered customer service automation platform. At the time of the acquisition, the company stated its plans to integrate Ultimate’s AI agent technology into its platform and expand its AI capabilities. Moreover, the launch is in line with a wider technological trend of leading players deploying GenAI-powered automation tools during the past month.</p>

Zendesk launches new AI-powered workflow automation solution at 'Relate' conference

<div>

<p>In a recent product release, Pegasystems launched "Pega GenAI Coach," tailored to provide beneficial advice to users, aiming to optimize their results obtained from automated workflows. This intelligent solution functions by analyzing an organization's work and data, integrating this analysis into the workflow systems, and subsequently generating valuable insights, particularly for the key areas of sales, service, and operations.</p>

<p>It is noteworthy that the "Pega GenAI Coach" can be applied across multiple tasks. These include the optimization of sales team performance, bolstering back-office operations, and catalyzing the resolution process for healthcare claims. The product thus serves to enhance operational efficiency within an organization.</p>
  
</div> <p><b>Analyst QuickTake:<br>
</b> GenAI has become a prominent tech trend within the workflow automation space, with several leading players making strides within the past month. This includes 1) <a href="https:<br>
//sp-edge.com/companies/5881"> Appian </a> , which <a href="https:<br>
//sp-edge.com/updates/28503"> partnered with AWS </a> to integrate GenAI into its process automation platform, 2) <a href="https:<br>
//sp-edge.com/companies/32064"> Nintex </a> , which <a href="https:<br>
//sp-edge.com/updates/27959"> launched new GenAI-powered tools </a> for its platform, 3) <a href="https:<br>
//sp-edge.com/companies/289520"> UiPath </a> , which <a href="https:<br>
//sp-edge.com/updates/27785"> launched a series of new features </a> including context grounding and proprietary large language models, and 4) <a href="https:<br>
//sp-edge.com/companies/82921"> Zapier </a> , which <a href="https:<br>
//sp-edge.com/updates/27915"> launched a chatbot building tool </a> . Moreover, this release marks PegaSystems’ second GenAI product release in the past month since it <a href="https:<br>
//sp-edge.com/updates/26549"> launched a solution </a> for users to generate application blueprints.</p>

Pegasystems introduces GenAI-powered mentor tool

<div>
 
 <p>Canadian IT services company, TELUS International, has broadened its partnership with workflow automation firm, Appian. The joint venture aims to create an AI-powered automation-as-a-service (AaaS) platform.</p>
 <p>This system will unite Appian’s low-code application development features with AI/ML and robotic process automation technology. This will allow users to automate an array of tasks.</p>
 
</div>

TELUS International expands partnership with Appian to develop automation-as-a-service platform

<div>

 <p>Workflow automation platform Appian has collaborated with Amazon Web Services (AWS) to create new GenAI-powered workflow solutions. The partnership allows Appian to integrate its existing AI capabilities and data fabric with the LLMs and machine-learning services from Amazon Bedrock and SageMaker. Appian users can host LLMs with compliance and data security, and use their own data to develop, train, and adjust AI models. </p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> GenAI has become a prominent tech trend within the workflow automation space, with Appian joining a long list of leading players who have released their own GenAI features to their platforms within the past month. This includes 1) <a href="https:<br>
//sp-edge.com/companies/32064"> Nintex </a> , which <a href="https:<br>
//sp-edge.com/updates/27959"> launched new GenAI-powered tools </a> for its platform, 2) <a href="https:<br>
//sp-edge.com/companies/289520"> UiPath </a> , which <a href="https:<br>
//sp-edge.com/updates/27785"> launched a series of new features </a> including context grounding and proprietary LLMs, 2) <a href="https:<br>
//sp-edge.com/companies/82921"> Zapier </a> , which <a href="https:<br>
//sp-edge.com/updates/27915"> launched a chatbot building tool </a> , and 3) <a href="https:<br>
//sp-edge.com/companies/3426"> Pegasystems </a> , which <a href="https:<br>
//sp-edge.com/updates/26549"> launched its own solution </a> for users to generate application blueprints.</p>

Appian partners with AWS to integrate GenAI into process automation platform

<div>
 <p>Dapta, a South American no-code workflow automation platform, has raked in a pre-seed funding round of USD 1.2 million. The fundraise was spearheaded by Fen Ventures and LatinLeap, and saw contributing stakes from Seedstars International Ventures, Invariantes Fund, KuiperVC, and Páramo Partners.</p>
 <p>The company has clear-cut expansion and development plans for the utilisation of the raised capital. They have set their sights on amplifying the product development procedure and broadening their market base to United States. Objectives to enhance the platform’s user interface, ramp up its performance and bolster its security forms the company's immediate agenda.</p>
 <p>Columbia-based Dapta offers users a no-code platform capable of integrating several third-party platforms and facilitating AI-based automation of workflows. The platform is primarily targeted at marketing, finance, and IT sector. It specialises in enabling integration of product data with CRM platforms, tying up ecommerce, communication, and task management software, and generation of API endpoints, webhooks, and mock APIs.</p>
</div>

Dapta raises USD 1.2 million in pre-seed funding

<div>
 <p>An accounts receivable (AR) automation platform named Tabs has raised USD 7 million in seed funding. Investors include leaders Lightspeed Venture Partners and Primary Ventures, taking Tabs' total funding to USD 12 million.</p>
 <p>Providing an AI-powered platform, Tabs helps B2B businesses extract data from their B2B contracts. This data then informs the automation of their AR processes, creating a seamless pathway from contract to cash. Tabs' AI model has the capacity to structure, digest, and organise a plethora of contract data, sourced from emails, purchase orders, amendments, and renewals. In addition, Tabs ensures processes such as contract ingestion, invoicing, and payments are fully automated. Users can make use of the platform’s analytics and reporting tools to stay on top of key metrics such as ARR/MRR, cash forecasting, and deferred revenue.&nbsp;</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The accounting and finance process automation space has seen a recent increase in investor interest, with several startups raising funds over the last three months. These include relatively large companies such as <a href="https:<br>
//sp-edge.com/companies/125563"> FloQast </a> and <a href="https:<br>
//sp-edge.com/companies/1610557"> Datasnipper </a> (both of which raised <a href="https:<br>
//sp-edge.com/updates/26255"> USD 100 million </a> ) as well as smaller startups such as <a href="https:<br>
//sp-edge.com/companies/3524052"> Nominal </a> (raised <a href="https:<br>
//sp-edge.com/updates/27960"> USD 9.2 million </a> ). While Tabs falls into the latter category, it differentiates itself with its proprietary AI model that can be used to extract and interpret contract data.</p>

Tabs raises USD 7 million in seed funding

<div>
 <p>FloQast, an accounting workflow automation platform, managed to acquire USD 100 million in Series E funding. The round was spearheaded by ICONIQ Growth, while BDT &amp; MSD Partners, WiL (World Innovation Lab), Meritech Capital, and Sapphire Ventures also participated. With this new funding round, FloQast has gathered a total of almost USD 303 million in funding, raising its valuation to USD 1.6 billion.</p>
 <p>FloQast has planned to utilize the capital to bolster its R&amp;D pursuits, primarily focusing on the integration of Artificial Intelligence (AI) in its services. The funds will also be utilized for global expansion.</p>
</div>

FloQast raises USD 100 million in Series E funding

<div>

<p>Stonebranch, a provider of an IT operations automation platform, has received an unspecified amount of minority investment from growth investment firm, EMH Partners. The capital injection will be utilized to enhance the platform and facilitate the company's geographical expansion.</p>
<p>The IT operations automation solution offered by Stonebranch comprises a diversified suite of tools. These enable developers to construct, schedule, and administer various IT processes across hybrid settings. The functionality allows users to develop and supervise automated workflows across private, public, and multi-cloud environments by employing real-time, event-based triggers. Additionally, the platform caters for data pipeline orchestration, managed file transfer, and enterprise job scheduling.</p>

</div>

All Updates