Torq Secures $70 Million in Funding to Advance AI-Driven Cybersecurity Automation
7 Sources
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Security automation platform provider Torq raises $70M to boost expansion and AI integration - SiliconANGLE
Security automation platform provider Torq raises $70M to boost expansion and AI integration Hyperautomation platform security company Torq Ltd. today announced that it has raised $70 million in new funding to increase expansion across Europe, the Middle East and the Asia-Pacific region and devote
[2]
Torq, which automates cybersecurity workflows, raises $70M in new capital | TechCrunch
As the volume of cyberattacks grows, there's increasing interest from the corporate sector in tech to help automate responses to breaches. Per a 2023 survey from analytics firm Devo, 80% of security leaders expected expanded investments in security automation technology this year; most cited the
[3]
Torq Raises $70 Million to Expand AI-First Cybersecurity Hyperautomation Solutions | PYMNTS.com
Torq has raised $70 million in a Series C funding round to expand its artificial intelligence (AI)-first cybersecurity hyperautomation solutions. The company will use the new funding to add generative AI enhancements, hire additional talent and accelerate its expansion across the Europe, Middle
[4]
Torq Announces $70M Series C to Double Down on Generative AI for Security Operations Platform, Bringing Total 2024 Funding to $112M
Torq Achieves 3X+ Revenue and Fortune 500 Customer Growth for the Second Year in a Row, With $100M 2026 ARR Target, As Torq HyperSOC and Torq Hyperautomation Achieve Global Enterprise Penetration NEW YORK-(BUSINESS WIRE)-September 24, 2024- Torq, the AI-first security hyperautomation leader,
[5]
Israeli Cyber Startup Torq Raises $70 Million in Latest Funding Round
JERUSALEM (Reuters) - Israeli cyber startup Torq said on Tuesday it raised $70 million in its second private funding round this year and targeted $100 million in annual recurring revenue by 2026. Torq, which uses artificial intelligence to provide security protection for companies, has now raised
[6]
Israeli cyber startup Torq raises $70 million in latest funding round
JERUSALEM, Sept 24 (Reuters) - Israeli cyber startup Torq said on Tuesday it raised $70 million in its second private funding round this year and targeted $100 million in annual recurring revenue by 2026. Torq, which uses artificial intelligence to provide security protection for companies, has
[7]
Torq CEO On Raising $70M, GenAI, Channel Expansion Plans
When it comes to the closet competitors of the security hyperautomation startup, 'we are years ahead of them,' Torq CEO Ofer Smadari tells CRN. Torq is planning to deploy its new $70 million funding round -- which is the second major fundraise of the year for the security "hyperautomation" startup
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Israeli cybersecurity startup Torq has raised $70 million in a Series C funding round, bringing its total funding for 2024 to $112 million. The company plans to use the investment to expand its AI-first security automation platform and accelerate global growth.
Torq's Successful Funding Round
Torq, an Israeli cybersecurity startup specializing in security automation, has successfully raised $70 million in a Series C funding round
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. This latest investment brings the company's total funding for 2024 to an impressive $112 million, highlighting strong investor confidence in Torq's innovative approach to cybersecurity4
.Investors and Valuation
The funding round was led by Shlomo Kramer and Insight Partners, with participation from other investors including GGV Capital, Bessemer Venture Partners, and Greenfield Partners
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. While the exact valuation of Torq following this investment has not been disclosed, sources close to the company suggest it is now valued at around $500 million2
.AI-Driven Security Automation
Torq's platform stands out in the cybersecurity landscape by leveraging artificial intelligence to automate security workflows. The company's "hyperautomation" approach combines no-code security automation with generative AI, enabling security teams to create and deploy complex automation workflows without extensive coding knowledge
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.Related Stories
Expansion Plans and Market Position
With this new influx of capital, Torq aims to accelerate its global expansion and further develop its AI-first cybersecurity solutions. The company plans to enhance its platform's capabilities, particularly in the realm of generative AI for security operations
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. Torq's innovative approach has already garnered attention, with the company reporting a 3x increase in annual recurring revenue and a growing customer base that includes Fortune 500 companies1
.Industry Impact and Future Outlook
The significant investment in Torq reflects a broader trend in the cybersecurity industry towards AI-driven solutions. As cyber threats become increasingly sophisticated, the demand for advanced, automated security tools is on the rise. Torq's success in this funding round positions the company as a key player in the evolving landscape of AI-powered cybersecurity automation
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.As Torq continues to grow and innovate, its impact on the cybersecurity sector is likely to expand, potentially reshaping how organizations approach security automation and threat response in an increasingly complex digital environment.
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