The automation space continues to attract investment of all kinds. In the same week UiPath provided more clarity around its long-awaited initial public offering, two other firms in various automation-related spaces were active in the private markets.
Tines, a Dublin, Ireland based no-code platform provider secured $26 million in Series B financing. The company, which focuses on solutions for the cybersecurity industry, has raised more than $40 million since its launch in 2018. It will use the capital to expand the platform it markets as a way for security professionals to move from time-consuming tasks including investigating security alerts, onboarding staff or responding to phishing emails to more the mission-critical aspects of their job like threat response.
Another company, also featuring a no-code platform and also based in Europe, is focusing on democratizing software and making it easier for business-line staff to use technology to automate processes themselves.
Berlin, Germany-based Bryter received a $66 million Series B round it will use to expand its operations in the U.S. The most recent funding round was led by Tiger Global, joining existing investors Accel, Dawn Capital, Notion Capital and Cavalry Ventures. The company’s CEO and co-founder Michael Grupp notes that no-code, AI-based tools like Bryter “sit on top of RPA in many cases.”