Trends
Israeli cyber startup Torq secures $70M to enhance AI-driven cybersecurity
Israeli startup Torq raised $70 million in its second funding round this year, aiming for $100 million in annual recurring revenue by 2026.
Headline
Israeli startup Torq raised $70 million in its second funding round this year, aiming for $100 million in annual recurring revenue by 2026.
Context
OUR TAKE Torq’s integration of generative AI into cybersecurity highlights the industry’s shift toward more adaptive solutions. Its focus on expanding in EMEA and APAC aligns with rising demand, but sustaining growth amid competition will require investments in technology and talent. –Jasmine Zhang, BTW reporter Israeli cybersecurity startup Torq announced on Tuesday that it has secured $70 million in its second private funding round of 2024, bringing its total funding this year to $112 million.
Evidence
Pending intelligence enrichment.
Analysis
Founded in 2020, Torq has now raised $192 million overall. The company leverages artificial intelligence to provide robust security solutions and aims to achieve $100 million in annual recurring revenue by 2026. The new funding will be used to expand its operations across the EMEA and APAC regions, hire more engineers, and enhance its security operations platform with generative AI capabilities. Torq has reportedly more than tripled its revenue for the second consecutive year and counts major clients like Telefonica and ZoomInfo among its customer base. The funding round was led by Evolution Equity Partners, with contributions from other notable investors. Also read: Israeli AI medical startup CytoReason secures funding from Nvidia Also read: Alphabet plans to acquire cybersecurity startup Wiz for $23B
Key Points
- Israeli startup Torq raised $70 million in its second funding round this year, aiming for $100 million in annual recurring revenue by 2026.
- The company plans to expand in EMEA and APAC, enhancing its security platform with generative AI.
Actions
Pending intelligence enrichment.
