September 26, 2024 at 04:19PM
Torq, the AI-first security hyperautomation leader, has closed a $70M Series C funding round, raising a total of $112M in 2024 and reaching a $192M funding since its 2020 inception. The company aims to increase expansion across EMEA and APAC, enhance engineering and sales talent, and deliver cutting-edge generative AI enhancements through its innovative Torq HyperSOC solution. Torq’s customer base includes major multinational enterprise customers and it has gained significant analyst validation from Gartner, Forrester, IDC, and GigaOm.
From the meeting notes, here are the key takeaways:
1. Torq has closed its Series C funding round, raising $70M led by Evolution Equity Partners, with Bessemer Venture Partners, Notable Capital, Greenfield Partners, and Strait Capital participating. Torq has raised a total of $112M in 2024, bringing its funding since 2020 to $192M.
2. The company has established a 2026 ARR target of $100M and plans to use the new funding to expand across EMEA and APAC, hire additional talent, and devote more resources to deliver AI enhancements.
3. Torq has more than tripled its revenue and customer growth for the second year in a row, reflecting elevated enterprise adoption of the Torq HyperSOC, a solution that harnesses the power of the AI-driven Torq Hyperautomation Platform.
4. Torq’s customer base includes major multinational enterprise customers and Fortune 100 companies in various industries.
5. The company is experiencing rapid growth, customer traction, and industry momentum with its Hyperautomation and HyperSOC offerings.
6. Analysts from Gartner, Forrester, IDC, and GigaOm have unanimously validated Torq Hyperautomation and highlighted its positive impact on customers.
7. Torq is transforming cybersecurity with its AI-first, enterprise-grade hyperautomation platform, with Fortune 500 enterprises experiencing extraordinary outcomes.
For further information, you can visit Torq’s website at Torq.io.