- 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.
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
What happened
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.
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.
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Why it’s important
Torq’s latest funding round reflects a growing trend in the cybersecurity sector where AI-driven solutions are becoming essential. As cyber threats evolve, the integration of generative AI into security operations can provide adaptive and intelligent defenses.
Torq’s strategy to focus on expanding its footprint in the EMEA and APAC markets is particularly astute, considering the rising demand for advanced cybersecurity solutions in these regions. Moreover, the company’s impressive revenue growth indicates strong market acceptance of its product offerings.
However, the challenge lies in maintaining this momentum while navigating a competitive landscape filled with both established players and emerging startups. Torq must not only invest in technology but also in talent acquisition and retention to sustain its growth trajectory.
