Goldman, SoftBank Back AI Startup Tines Valued at $1.13 Billion
- Business software company raised $125 million from investors
- Company is tapping into investor enthusiasm for AI in business
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Goldman Sachs Group Inc.’s growth equity unit led a $125 million funding round for software startup Tines Security Services Ltd., valuing the startup at $1.13 billion — and underscoring investors’ appetite for artificial intelligence-powered business tools.
The deal boosted Tines’ valuation by more than 80% from its previous value of $600 million last year. Other investors included SoftBank Group Corp.’s Vision Fund 2, investment firm Activant Capital and Accel.