**Israeli Cybersecurity Startup Torq Secures $140 Million Funding Round**
Israeli cybersecurity firm Torq has announced the successful closure of a $140 million funding round, elevating its valuation to $1.2 billion. Based in Tel Aviv, Torq specializes in an autonomous security operations platform that leverages artificial intelligence to streamline security processes. The platform automates repetitive tasks, such as managing extensive security alerts, allowing teams to concentrate on more complex and critical issues.
Ofer Smadari, CEO and co-founder of Torq, emphasized the importance of automation in reducing backlogs and enhancing team efficiency. “You don’t want your team to have a huge backlog and using your team just to do the simple things while you can automate everything,” he stated.
Previously reported by TheMarker, Torq achieved unicorn status with this funding round, although specific amounts were not disclosed. Founded in 2020, the company pivoted its focus following the rise of generative AI technologies. Smadari noted, “By the end of 2022, ChatGPT came into our life, and we saw the opportunity to start building agents and AI functionality,” leading to the introduction of an AI agent for security operations in the summer of 2023.
The funding round was led by Merlin Ventures, with contributions from existing investors such as Evolution Equity Partners, Notable Capital, Bessemer Venture Partners, Insight Venture Partners, and Greenfield Partners. Torq currently employs over 300 staff across Israel and the United States. The founders previously established Luminate Security in 2017, which was sold to Symantec Corp. for $250 million less than two years later. Smadari remarked on the timing of Torq’s inception, stating, “We said, ‘There is nothing like a big worldwide crisis to build another company.’”
In conclusion, Torq’s innovative approach to cybersecurity through AI-driven automation positions it as a significant player in the industry, promising to enhance operational efficiency and security management.
**FAQ**
**What is Torq’s primary focus?**
Torq focuses on providing an autonomous security operations platform that utilizes artificial intelligence to automate repetitive security tasks, allowing teams to address more complex issues.
