Cybersecurity company Torq has secured $42 million in an extension to its Series B Funding Round and raised the total funding to $120 million. The investors in the round included Insight Partners, GGV Capital, Bessemer Venture Partners, Greenfield Partners, and Evolution Equity Partners.
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The additional funds will be used for worldwide expansion, bolstering Torq’s sales channel footprint, and enhancing the platform’s artificial intelligence (AI) strengths.
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“2023 was a year of dramatic customer and revenue focus, product innovation and expansion, and channel and partner momentum, yielding the strongest year for Torq since it was founded,” said Ofer Smadari, CEO and co-founder of Torq. “Customers, partners, and industry analysts experienced the incredible value Torq Hyperautomation delivered across 2023, creating an ongoing tidal wave of interest in our technology and services–and notably, a permanent shift away from legacy SOAR platforms and vendors. We doubled our Sales and Go-to-Market teams to accommodate this fantastic growth. And we’re just getting started. We can’t wait to unveil 2024’s slate of product enhancements and programs that will take Torq to the next level.”
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Established in 2020 by Ofer Smadari, Leonid Belkind, and Eldad Livni, Torq is transforming cybersecurity with its pioneering enterprise-grade, AI-driven hyperautomation platform. By connecting the entire security infrastructure stack, Torq makes autonomous security operations a reality.
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It empowers organizations to instantly and precisely remediate security events, and orchestrate complex security processes at scale. Fortune 500 enterprises, including the world’s biggest financial, technology, consumer packaged goods, fashion, hospitality, and sports apparel companies are experiencing extraordinary outcomes with Torq.