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The phrase "increased three times" is correct and usable in written English.
You can use it to describe an increase by a factor of three. For example, "My profits increased three times last quarter compared to the previous quarter."
Exact(49)
Twitter's share price was increased three times before the Thursday's launch.
Our bond rating has been increased three times, to AA1, Moody's second-highest rating.
And our bond rating has increased three times, to the highest level in history.
Twitter's share price was increased three times before the initial public offering (IPO).
Worldwide, the energy efficiency of labelled appliances has increased three times faster than appliances without labels.
In Mexico, the minimum wage was increased three times in 1986—in January, June, and October.
Similar(11)
Child's Times Square restaurant reported that the number of onlookers had increased six times since the installation.
The incomes of the people have increased ten times.
The prices have increased five times since preopening sales began in April 1999.
Taxes over the last 13 years have only been increased four times, each under 3percentt.
Economic output has increased five times in the past 25 years, but wellbeing fell between 1990 and 2005.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com