News Global Israeli Cybersecurity Startup Torq Achieves $1.2 Billion Valuation with $140 Million Funding RoundIsraeli Cybersecurity Startup Torq Achieves $1.2 Billion Valuation with $140 Million Funding Round
Israeli cybersecurity startup Torq has raised $140 million at a $1.2 billion valuation, achieving unicorn status with its AI-powered autonomous security operations platform. The Tel Aviv-based company, founded in 2020, specializes in automating repetitive security tasks through AI agents, allowing teams to focus on complex threats. Led by Merlin Ventures with participation from existing investors, the funding round supports Torq's growth to over 300 employees across Israel and the US, building on the founders' previous success with Luminate Security's $250 million sale to Symantec Corp.
*this image is generated using AI for illustrative purposes only.
Israeli cybersecurity startup Torq has successfully closed a $140 million funding round, achieving unicorn status with a valuation of $1.2 billion. The Tel Aviv-based company announced the milestone funding, which positions it among the elite group of billion-dollar startups in the cybersecurity sector.
AI-Powered Security Operations Platform
Torq offers an autonomous security operations platform designed from the ground up with artificial intelligence capabilities. The platform enables organizations to automate repetitive security work using AI agents, particularly in managing large volumes of security alerts. This automation allows security teams to focus their attention on more complex and potentially dangerous security issues.
"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," said Ofer Smadari, the company's Chief Executive Officer and co-founder. The platform's capabilities have evolved to encompass comprehensive automation and remediation functions across security operations.
Funding Round Details
The latest funding round demonstrates strong investor confidence in Torq's technology and market position:
| Parameter: | Details |
|---|---|
| Funding Amount: | $140.00 million |
| Company Valuation: | $1.20 billion |
| Lead Investor: | Merlin Ventures |
| Status Achieved: | Unicorn |
The round included participation from several existing investors, showcasing continued support from the company's investor base. Notable participants include Evolution Equity Partners, Notable Capital, Bessemer Venture Partners, Insight Venture Partners, and Greenfield Partners.
Strategic Pivot and AI Integration
Founded in 2020, Torq underwent a strategic shift following the emergence of generative artificial intelligence technology. The company recognized the transformative potential of AI in cybersecurity operations and adapted its platform accordingly.
"By the end of 2022, ChatGPT came into our life, and we saw the opportunity to start building agents and AI functionality," Smadari explained. The company introduced its AI agent for security operations in the summer of 2023, marking a significant milestone in its technology evolution.
Company Growth and Leadership
Torq has experienced substantial growth since its inception, now employing more than 300 people across operations in Israel and the United States. The company's leadership team brings proven experience in the cybersecurity sector, with founders who previously demonstrated successful exit capabilities.
Smadari and his co-founders previously established Luminate Security in 2017, which they successfully sold to Symantec Corp. for $250.00 million less than two years later. This track record provided valuable experience for building and scaling cybersecurity companies.
Market Timing and Vision
The timing of Torq's establishment proved fortuitous, with the company launching in January 2020 just before the global pandemic created increased demand for cybersecurity solutions. "We said, 'There is nothing like a big worldwide crisis to build another company,'" Smadari noted, reflecting on the company's strategic timing and market opportunity recognition.
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