Israeli cyber startup Torq raises $140 million at $1.2 billion valuation
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FILE PHOTO: AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
Jan 11 (Reuters) - Israeli cyber startup Torq said on Sunday it raised $140 million at a $1.2 billion valuation, as it looks to speed up adoption of its artificial intelligence-driven security operations center (SOC) platform and expand into the U.S. market.
Torq, which uses AI to provide security protection for companies, has now raised a total of $332 million since its inception in 2020.
"This funding accelerates our mission to define and dominate the AI SOC market," said Ofer Smadari, CEO and co-founder, Torq.
The company said its customer base includes multinationals including Marriott, PepsiCo, Procter & Gamble, Siemens, Uber and Virgin Atlantic.
The latest funding round was led by Merlin Ventures, with participation from all existing investors, such as Evolution Equity Partners, Bessemer Venture Partners, Notable Capital, and Greenfield Partners.
(Reporting by Ruchika Khanna in Bengaluru, Editing by Louise Heavens)
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