Hyperautomation platform security company Torq Ltd. today announced that it has raised $70 million in new funding to increase expansion across Europe, the Middle East and the Asia-Pacific region and devote more resources to generative artificial intelligence enhancements.
Founded in 2020, Torq offers a hyperautomation platform for security and operations teams that connects security infrastructure and communications tools to automate workflows across systems. By connecting the entire security infrastructure stack, Torq allows organizations to remediate security events and orchestrate complex security processes at large scale.
The company’s no-code hyperautomation platform is designed specifically for security teams. It offers key features such as seamless integration and automation across cloud, on-premise and hybrid environments. Rounding out the buzzwords, Torq’s platform supports natural language, no-code, low-code and full-code development for building automations and is built on a cloud-native, multitenant architecture with zero-trust security.
The Series C round was led by Evolution Equity Partners, with Bessemer Venture Partners LP, Notable Capital, Greenfield Partners and Strait Capital Company Ltd. also participating. Including the new funding, Torq has raised $192 million to date, including rounds of $50 million in December 2021 and $42 million in January.
Along with the funding, Torq also revealed that it more than tripled its revenue and customer growth for the second year in a row. The company credits its recent momentum to the elevating enterprise adoption of its Torq HyperSOC offering announced in April.
Torq HyperSOC automates, manages and monitors critical security operation center responses using natural language processing to initiate and accelerate security event investigation, triage and remediation. The result, the company claims, is case management capabilities that are easy to use and automate complex processes.
The company also now counts as customers an impressive list of companies, including Procter & Gamble Co., PepsiCo Inc., Siemens AG, Carvana Co., Check Point Security Technologies Ltd., Chipotle Mexican Grill Inc., Rivian Automotive Inc., SentinelOne Inc. and Wiz Inc.
“With Torq, we can react automatically to problems before they become security incidents,” said Check Point Chief Information Officer Jonathan Fischbein. “It’s a cat-and-mouse game. And, with Torq, we can catch the mouse more easily.”