September 27, 2024 at 01:46PM
Torq, a startup specializing in AI-powered security automation, has secured $70 million in a Series C funding round led by Evolution Equity Partners. This brings their total raised to $192 million. The funding will be used to further advance their AI-driven security operations platform and expand their client base, which already includes Fortune 500 companies. The company’s flagship product, Torq HyperSOC, utilizes AI and natural language processing to automate threat investigation, triage, and remediation for enterprise security teams. Additionally, Torq aims to address alert fatigue, resource constraints, and high turnover rates in the industry by using AI to identify and prioritize security incidents, manage response actions, and create an automated framework to alleviate the manual burden on human analysts. Notable investors in this funding round include Bessemer Venture Partners, Notable Capital, Greenfield Partners, and Strait Capital. Torq has already made significant inroads with high-profile enterprise clients, such as Procter & Gamble, PepsiCo, and Siemens.
Key Takeaways from the Meeting Notes:
– Torq, a late-stage startup in the AI-powered security automation sector, secured $70 million in a Series C funding round, led by Evolution Equity Partners, bringing the total raised to $192 million.
– The capital will be used to accelerate the adoption of its AI-driven security operations platform, Torq HyperSOC, focusing on Fortune 500 companies.
– Besides Evolution Equity Partners, equity positions were also taken by Bessemer Venture Partners, Notable Capital, Greenfield Partners, and Strait Capital.
– Torq HyperSOC utilizes artificial intelligence and natural language processing to automate threat investigation, triage, and remediation for enterprise security teams, addressing issues related to alert fatigue, resource constraints, and high turnover rates.
– Torq has gained traction with prominent enterprise clients, such as Procter & Gamble, PepsiCo, and Siemens.
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