PRESS RELEASE NEW YORK, September 24, 2024 – Torq, the AI-first security hyperautomation leader, today announced the closing of its $70M Series C funding round, led by Evolution Equity Partners, with Bessemer Venture Partners, Notable Capital, Greenfield Partners, and Strait Capital participating. Combined with Torq’s expanded Series B in January, Torq has raised a total of $112m in 2024, bringing the company’s funding since its 2020 inception to $192M. It also has also established an aggressive 2026 ARR target of $100M.
Torq will use the new round to increase expansion across EMEA and APAC, hire additional world class engineering, R&D, and sales talent, and double down on devoting more resources to deliver cutting-edge generative AI enhancements. In addition, Torq announced that it more than tripled its revenue and customer growth for the second year in a row. Torq’s momentum reflects the elevating enterprise adoption of the recently-announced Torq HyperSOC, a purpose-built solution that harnesses the power of the AI-driven Torq Hyperautomation Platform to automate, manage, and monitor critical SOC responses at machine speed.
It uses Natural Language Processing (NLP) to initiate and accelerate security event investigation, triage, and remediation at scale, deliver comprehensive case management capabilities with unprecedented ease, and automate complex processes. Torq HyperSOC saves analysts from alert fatigue and job burnout so they can focus on strategic security in.