Torq's approach to cybersecurity involves giving customers the ability to choose which parts of their data are accessible to the platform and where that data is stored. The company has recently launched a partner program for managed detection and response providers and a separate partner program for general resellers. After making several executive team hires, Torq plans to grow its 150-employee workforce by 30% by the end of 2024.
Key takeaways:
- Torq, a cybersecurity startup, has raised $42 million in an extension to its Series B funding round, bringing the company’s total raised to $120 million.
- The company plans to use the new funds to expand its platform, including with AI capabilities, for international growth, and to increase its sales channel presence.
- Torq's platform allows IT teams to create and deploy security workflows that integrate with existing cybersecurity infrastructure, leveraging generative AI to analyze and respond to security incidents.
- Despite a decrease in cybersecurity funding, Torq has seen significant growth, with a 300% increase in revenue in 2023 on 500% client base growth, and plans to grow its workforce by 30% by the end of 2024.