Torq, a Security Automation Platform Provider, Raises $70M to Boost Expansion and AI Integration

Torq Ltd., a hyperautomation platform security company, today announced that it has raised $70 million in new funding to further expand across Europe, the Middle East, and the Asia-Pacific region and allocate more resources to generative AI improvements.

Founded in 2020, Torq delivers a superior automation platform for security and operations teams that connects security infrastructure and communications tools to automate workflows across systems. By connecting the entire security infrastructure stack, Torq enables organizations to address security incidents and orchestrate complex security operations at scale.

The company’s no-code hyper-automation platform is specifically designed for security teams. It offers key features like seamless integration and automation across cloud, on-premises, and hybrid environments. Continuing the buzzwords, the Torq platform supports natural language, no-code and low-code development, and full-stack automation and is built on a multi-tenant cloud architecture with zero-trust security.

The Series C funding round was led by Evolution Equity Partners, and also included participation from Bessemer Venture Partners LP, Notable Capital, Greenfield Partners, and Strait Capital Company Ltd. Including the new funding, Torq has raised $192 million to date, including $50 million rounds in December 2021 and $42 million in January.

In addition to the funding, Torq also reported a more than three-fold increase in revenue and customer growth for the second year in a row. The company attributes its recent momentum to increased enterprise adoption of the Torq HyperSOC offerings it announced in April.

Torq HyperSOC automates, manages, and monitors critical SOC responses using natural language processing to initiate and accelerate investigation, triage, and remediation of security incidents. The result, the company claims, is easy-to-use case management capabilities that automate complex processes.

The company now also counts an impressive list of companies among its clients, including Procter & Gamble Co., PepsiCo Inc., Siemens AG, Carvana Co., Check Point Security Technologies Ltd., Chipotle Mexican Grill Inc., Rivian Automotive Inc., SentinelOne Inc., and Wiz Inc.

“With Torq, we can automatically respond to issues before they become security incidents,” said Jonathan Fishbein, chief information officer at Check Point. “It’s a cat-and-mouse game. With Torq, we can catch the mouse much more easily.”

Image: Turk