Torq Raises $70 Million to Expand AI-First Cybersecurity Hyperautomation Solutions
Torq has raised $70 million in a Series C funding round to expand its artificial intelligence (AI)-first cybersecurity hyperautomation solutions.
The company will use the new funding to add generative AI enhancements, hire additional talent and accelerate its expansion across the Europe, Middle East and Africa (EMEA) and Asia-Pacific (APAC) regions, Torq said in a Tuesday (Sept. 24) press release.
“Torq has blown past all the frustrating, manual limitations of legacy [security orchestration, automation and response (SOAR)] that leave significant holes in the security perimeter,” Ofer Smadari, CEO and co-founder of Torq, said in the release. “Torq plugs all those holes by delivering a new layer of AI-driven protection, all while making all of security operations more productive than ever.”
The company’s Torq HyperSOC is a purpose-built solution that uses the AI-driven Torq Hyperautomation platform to automate, manage and monitor critical security operations center (SOC) responses, according to the release.
By initiating and accelerating security event investigation, triage and remediation, delivering case management capabilities and automating complex processes, Torq HyperSOC allows analysts to focus on strategic security initiatives, per the release.
Torq Hyperautomation and Torque HyperSOC deliver “deep value” for security operations teams worldwide, Richard Seewald, founder and managing partner of Evolution Equity Partners, which led Torq’s latest funding round, said in the release.
“It’s now no longer a question of if, but when every enterprise will adopt AI-driven hyperautomation,” Seewald said.
With commerce increasingly happening online and payment systems becoming more intertwined with complex technologies, cybersecurity has never been more critical, PYMNTS reported Sept. 13.
News came Sept. 12 that Mastercard spent $2.65 billion to acquire threat intelligence company Recorded Future, saying the deal “bolsters the insights and intelligence used to secure today’s digital economy — in the payments ecosystem and beyond.”
In August, Kiteworks secured a $456 million growth equity investment to strengthen its market position in secure data transfer and collaboration, noting that there is an expanding cybersecurity risk as more cybercriminals target sensitive content from supply chains and other ecosystem.
In January, cloud-native security provider Aqua Security secured $60 million in funding in an extension of its Series E round. The company said that since its founding eight years earlier, its solutions had been adopted by more than 500 enterprise companies worldwide, including 40% of the Fortune 100 companies.
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