On Tuesday, the Israeli cyber company Torq said that it had raised $70 million in its second round of private funding this year, with the goal of achieving $100 million in recurring revenue annually by 2026.
Torq, a company that protects businesses’ security using artificial intelligence, has raised $112 million in 2024 and $192 million total since its founding in 2020.
With the additional funding, Torq said it would hire more engineers and other staff members, grow its business throughout EMEA and APAC, and invest more in generative AI improvements for its security operations platform.
It stated that its revenue had more than tripled for the second year in a row, but it did not say by how much.
According to Torq, their clientele consists of Fortune 100 consumer packaged goods, fashion, finance, hospitality, and sports clothing firms in addition to global corporations like Telefonica and ZoomInfo.
Evolution Equity Partners led the most recent fundraising round, in which Bessemer Venture Partners, Notable Capital, Greenfield Partners, and Strait Capital also took part.
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