Cybersecurity Startup Torq Raises $42M to Accelerate Hyperautomation Platform Expansion

Cybersecurity startup Torq has raised $42 million in an extension to its Series B funding round, bringing its total raised to $120 million. The funding will be used to expand Torq’s hyperautomation platform, enhance its AI capabilities, fuel international growth, and increase its sales channel presence. Torq’s platform allows IT teams to create and deploy security workflows that integrate with existing cybersecurity infrastructure, utilizing generative AI and large language models to analyze and answer questions about security incidents. Despite concerns about privacy and data access, Torq has seen significant growth, with revenue increasing by 300% in 2023 and its client base growing by 500%. The company currently has around 100 enterprise customers, including well-known brands like Blackstone, Chipotle, Rivian, Lemonade, and Fiverr. In an industry facing a decline in cybersecurity funding, Torq’s responsible growth approach has allowed it to stand out and attract customers. With the increasing demand for security automation, Torq aims to stay ahead of competitors by expanding its workforce and rolling out partner programs.