PRESS RELEASE
NEW YORK, September 24, 2024 –Torq, the AI-first safety hyperautomation chief, at present introduced the closing of its $70M Collection C funding spherical, led by Evolution Fairness Companions, with Bessemer Enterprise Companions, Notable Capital, Greenfield Companions, and Strait Capital collaborating. Mixed with Torq’s expanded Collection B in January, Torq has raised a complete of $112m in 2024, bringing the corporate’s funding since its 2020 inception to $192M. It additionally has additionally established an aggressive 2026 ARR goal of $100M. Torq will use the brand new spherical to extend enlargement throughout EMEA and APAC, rent extra world class engineering, R&D, and gross sales expertise, and double down on devoting extra sources to ship cutting-edge generative AI enhancements.
As well as, Torq introduced that it greater than tripled its income and buyer progress for the second yr in a row. Torq’s momentum displays the elevating enterprise adoption of the recently-announced Torq HyperSOC, a purpose-built answer that harnesses the ability of the AI-driven Torq Hyperautomation Platform to automate, handle, and monitor important SOC responses at machine velocity. It makes use of Pure Language Processing (NLP) to provoke and speed up safety occasion investigation, triage, and remediation at scale, ship complete case administration capabilities with unprecedented ease, and automate advanced processes. Torq HyperSOC saves analysts from alert fatigue and job burnout to allow them to give attention to strategic safety initiatives and innovation.
Fast International Enterprise Adoption
Torq’s buyer base contains main multinational enterprise clients, together with Irregular Safety, Armis, Blackstone, Carvana, Verify Level Safety, Chipotle, Deepwatch, Lemonade, Lennar, Nubank, Rivian, SentinelOne, Telefonica, Wiz, and ZoomInfo, in addition to Fortune 100 shopper packaged items, trend, monetary, hospitality, and sports activities attire firms.
“Our Collection C spherical underlines the truth that Torq clients, companions, and workers have mixed into probably the most highly effective, influential, and fastest-growing ecosystems in all of cybersecurity,” mentioned Ofer Smadari, CEO and co-founder, Torq. “We’ve rewritten the principles of the trade with Torq Hyperautomation and Torq HyperSOC, and our momentum displays that shift. Torq has blown previous all of the irritating, guide limitations of legacy SOAR that depart vital holes within the safety perimeter. Torq plugs all these holes by delivering a brand new layer of AI-driven safety, all whereas making all of safety operations extra productive than ever.”
“At this time, Torq HyperSOC investigates, triages, and remediates lots of Verify Level’s inner safety alerts with none human intervention,” mentioned Jonathan Fischbein CISO, Verify Level. “If an alert meets sure parameters based mostly on organizational safety insurance policies, the platform takes related predefined steps, akin to initiating an MFA problem or locking out a suspicious consumer. We are able to react mechanically to issues earlier than they turn out to be safety incidents.”
“The unbelievable progress, buyer traction, and trade momentum Torq Hyperautomation and Torq HyperSOC are experiencing showcases how Torq is dramatically reworking cybersecurity for the higher,” mentioned Richard Seewald, Founder and Managing Associate, Evolution Fairness Companions. “Evolution is extremely proud to again Torq because it continues to ship such deep worth for safety operations groups worldwide. It’s now not a query of if, however when each enterprise will undertake AI-driven hyperautomation.”
Torq’s buyer base additionally continues to quickly develop because of the success of the Torq Associate Acceleration Program, which incorporates lots of the world’s main channel and safety distributors. Torq tech alliance companions embrace Irregular Safety, Verify Level, CrowdStrike, SentinelOne, Snyk, and Wiz. Its reseller and VAR ecosystem contains GuidePoint Safety, Optiv, Stratascale, and Trace3.
“Torq is a rising star in cybersecurity,” mentioned Oren Yunger, Managing Associate, Notable Capital. “Torq HyperSOC’s superior AI capabilities are having a dramatic, optimistic affect on safety operations groups worldwide by making them vastly extra environment friendly and resilient than ever. Torq represents the next-generation of safety operations and Notable Capital is definite the longer term is exceptionally brilliant for the corporate.”
Key Analysts Unanimously Validate Torq Hyperautomation
Analysts together with Gartner, Forrester, IDC, and GigaOm all coated Torq Hyperautomation throughout 2024, with unanimous views on the optimistic affect it’s making for patrons.
“Every single day, IDC is engaged with SOC professionals who talk the existential challenges they’re dealing with, each by way of maintaining with ever-escalating menace complexity and quantity, and the unbelievable burden that locations on the shoulders of their groups,” mentioned Chris Kissel, Vice President, Safety & Belief Merchandise, IDC Analysis. “Torq is the primary answer we’ve seen that successfully permits SOC professionals to mitigate points together with alert fatigue, false positives, workers burnout, and attrition. We’re additionally impressed by how its AI augmentation capabilities empower these workers members to be way more proactive about fortifying the safety perimeter.”
“Torq gives an intensive function set, as mirrored in its excessive scores throughout many of the key standards, together with case administration, and collaboration, automated alert prioritization, triage and curation, autonomous operations, and validation and purple teaming, and has acquired a powerful portfolio of shoppers,” mentioned GigaOm in a 2024 Radar Report.
Be taught extra about Torq at Torq.io.
About Torq
Torq is reworking cybersecurity with its AI-first enterprise-grade hyperautomation platform. By connecting your entire safety infrastructure stack, Torq empowers organizations to immediately and exactly remediate safety occasions, and orchestrate advanced safety processes at scale. Fortune 500 enterprises, together with the world’s greatest monetary, expertise, shopper packaged items, trend, hospitality, and sports activities attire firms are experiencing extraordinary outcomes with Torq.