Israeli Cybersecurity Startup Torq Raises $70 Million to Enhance AI Solutions
Israeli startup Torq secures $70 million to grow its AI-driven cybersecurity services, aiming for $100 million in revenue by 2026
Israeli cybersecurity startup Torq has recently announced that it has successfully raised $70 million in its second funding round this year. This new investment will help the company work towards a goal of reaching $100 million in annual revenue by 2026. Founded in 2020, Torq has quickly become a notable player in the cybersecurity field. With this latest funding, the total amount raised by Torq in 2024 alone reaches $112 million, bringing its total funding to an impressive $192 million.
The money from this funding round will be used to expand Torq's operations in the EMEA (Europe, the Middle East, and Africa) and APAC (Asia-Pacific) regions. The startup plans to open new offices and hire more engineers and cybersecurity experts to strengthen its team and improve its products. A key focus will be on enhancing its security platform with advanced AI technology. By doing this, Torq aims to offer even smarter security solutions that help businesses defend against the increasing number of cyber threats.
Torq's revenue has been growing rapidly, having tripled for two years in a row, although specific figures haven’t been disclosed. The company serves a wide variety of clients, including major names like Telefónica and ZoomInfo, along with Fortune 100 companies from different industries such as fashion, finance, hospitality, and consumer goods. This diverse client base highlights Torq's ability to meet the unique security needs of various sectors.
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The funding round was led by Evolution Equity Partners, with participation from other well-known investors like Bessemer Venture Partners, Notable Capital, Greenfield Partners, and Strait Capital. Their support reflects a strong belief in Torq's innovative approach to cybersecurity.
As cyber threats become more sophisticated, businesses are realizing the importance of investing in effective security measures. Torq’s commitment to using AI technology positions it well to lead in the cybersecurity market. With its plans for growth and solid financial backing, Torq is poised to make a significant impact in protecting businesses against digital threats.
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