Venture Capital News: Torq Nabs $70M Series C Round
2024-09-24
NEW YORK, NY, Torq, the AI-first security hyperautomation leader, today announced the closing of its $70 million Series C funding round.
The round was led by Evolution Equity Partners, with Bessemer Venture Partners, Notable Capital, Greenfield Partners, and Strait Capital participating. Combined with Torq's expanded Series B in January, Torq has raised a total of $112m in 2024, bringing the company's funding since its 2020 inception to $192M. It also has also established an aggressive 2026 ARR target of $100M. Torq will use the new round to increase expansion across EMEA and APAC, hire additional world class engineering, R&D, and sales talent, and double down on devoting more resources to deliver cutting-edge generative AI enhancements.
Torq is transforming cybersecurity with its AI-first enterprise-grade hyperautomation platform. By connecting the entire security infrastructure stack, Torq empowers organizations to instantly and precisely remediate security events, and orchestrate complex security processes at scale. Fortune 500 enterprises, including the world's biggest financial, technology, consumer packaged goods, fashion, hospitality, and sports apparel companies are experiencing extraordinary outcomes with Torq.
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