Goldman Sachs’ growth equity unit has led a US$125 million funding round for Tines Security Services Ltd., an AI software startup based in Dublin.

The funding has increased the company’s valuation to US$1.13 billion, up from US$600 million last year.

Participants in this funding round included SoftBank’s Vision Fund 2, Activant Capital, and Accel.

Founded in 2018, Tines develops AI-driven tools designed to automate cybersecurity and business operations.

According to CEO Eoin Hinchy, Tines plans to use the funds for research and development.