Torq Closes $70M in Series C Funding

Torq, the security hyperautomation company powered by AI, has just released a press release sharing that the company has closed its Series C funding round with $70 million in new capital, adding to its already expanded Series B from January 2024.

With total funding for the year 2024 reaching $112 million, Torq’s overall raise since its 2020 launch now stands at $192 million and that's really impressive for the startup.

The company’s plans for the future are ambitious, with a goal of hitting $100 million in annual recurring revenue (ARR) by 2026 Torq plans to go big for the cybersecurity industry.

Ofer Smadari, CEO and co-founder, Torq said:

“Our Series C round underlines the fact that Torq customers, partners, and employees have combined into one of the most powerful, influential, and fastest-growing ecosystems in all of cybersecurity,”

Torq is channeling this fresh capital of $70M to further its global expansion, particularly in Europe, the Middle East, and Asia-Pacific (EMEA and APAC).

They’re also ramping up their workforce, with plans to hire more top-tier talent across engineering, research, and sales while many other giants are laying off such people at a large scale.

But it's not just about growth — the company is doubling down on AI advancements to bolster its security offerings.

Interestingly, this funding news arrives during a time when cybersecurity threats are skyrocketing globally, and companies are under pressure to enhance their defenses.

Torq’s flagship product, HyperSOC, is already proving popular, tripling the company’s revenue and customer base for the second year in a row.

With notable clients like ZoomInfo, Check Point, and Chipotle on board, Torq is quickly becoming a heavy hitter in cybersecurity.

As they continue to grow, it seems like they're on track to take over the industry — one AI-driven solution at a time!