7 months ago
Torq Raises $140M at $1.2B Valuation
Torq is a cybersecurity company that uses artificial intelligence to help businesses with their security.
They just got $140 million from investors, making the company worth $1.2 billion.
This money will help them build more AI tools to automatically handle security problems, so people can focus on the tricky ones.
The company was started in 2020 by people who had sold another security company before.
They have over 300 workers in Israel and the US.
The new funding will help them grow and improve their technology.
Torq, an Israeli cybersecurity startup, raised $140 million in a funding round, reaching a $1.2 billion valuation.
The company offers an autonomous security operations platform powered by artificial intelligence.
Torq's AI agents automate repetitive security tasks, allowing employees to focus on complex issues.
The funding round was led by Merlin Ventures, with participation from existing investors.
Torq was founded in 2020 by the same team that previously sold Luminate Security to Symantec Corp. for $250 million.
- Who
- Torq, an Israeli cybersecurity startup
- What
- Raised $140 million in funding, reaching a $1.2 billion valuation
- Where
- Headquartered in Tel Aviv, Israel, with operations in the US
- When
- Funding round closed on Sunday
- Why
- To develop and expand its AI-driven autonomous security operations platform
Key facts
- Company
- Torq
- Funding Round
- $140 million
- Valuation
- $1.2 billion
- Lead Investor
- Merlin Ventures
- Founding Year
- 2020
- Employees
- More than 300
- Headquarters
- Tel Aviv, Israel
- CEO
- Ofer Smadari
Quotes
Ofer Smadari
CEO and co-founder of Torq
“You don’t want your team to have a huge backlog and using your team just to do the simple things while you can automate everything.”
livemint.com
“By the end of 2022, ChatGPT came into our life, and we saw the opportunity to start building agents and AI functionality.”
livemint.com