Torq co-founders (company pic)
Torq, an Israeli cybersecurity startup, is one of a few such firms that are proving Startup Nation Israel is still open for business despite three months of war in Gaza. After the start of the Iron Swards War investments in Israel dried up and the Shekel plummeted in value. But in the last month, things have picked up again.
And cybersecurity firms continue to lead the way.
Torq, which calls itself the security “hyperautomation” pioneer, had 300% revenue growth and 500% customer growth in its third year of operation in 2023, and hit a total of $120 million in funding with the $42 million raised in an extension to its Series B fundraising round.
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Everyone knows that Israel has been at the forefront of security – all security – since its inception, from military innovations to cybersecurity. Now, combine that with Israel’s high-tech sector and the ability of Israelis to innovate and be problem solvers in just about any field.
Just yesterday Jewish Business News reported on how Silverfort, an Israeli cybersecurity startup that provides a Unified Identity Threat Protection platform, raised $222 million to date.
Founded in 2020 by Ofer Smadari (CEO), Leonid Belkind (CTO), and Eldad Livni (CINO), Torq boasts that its Torq Hyperautomation unifies and automates the entire security infrastructure to deliver unparalleled protection and productivity. Torq delivers the security industry’s first enterprise-grade hyperautomation platform capable of automating the most complex security infrastructures at dramatic scale.
In 2023, Torq announced the introduction of Torq Hyperautomation, the world’s first enterprise-grade security hyperautomation platform capable of automating the most complex security infrastructures at dramatic scale, and Torq Socrates, cybersecurity’s first Tier-1 analysis AI Agent, designed to close 90% of Tier-1 tickets autonomously. In addition, Torq announced the new Torq Partner Acceleration and Torq For MDR programs.
Torq also expanded its executive team with the addition of global cybersecurity visionaries, including Senior Vice-President of Worldwide Sales Josh Morris, formerly of Splunk and Palo Alto Networks; Chief Marketing Officer Don Jeter, formerly of Pax8, Veritas, and Symantec; and Sheldon Muir, Head of Global Channels and Alliances, formerly of Netskope and Imperva. Together, Morris, Jeter, and Muir are helping propel Torq into its next phase of aggressive growth and shaping the company’s strategic approach to maximize pipeline, customer engagement, and brand and partner reach.
“2023 was a year of dramatic customer and revenue focus, product innovation and expansion, and channel and partner momentum, yielding the strongest year for Torq since it was founded,” said Ofer Smadari, CEO and co-founder, Torq. “Customers, partners, and industry analysts experienced the incredible value Torq Hyperautomation delivered across 2023, creating an ongoing tidal wave of interest in our technology and services–and notably, a permanent shift away from legacy SOAR platforms and vendors. We doubled our Sales and Go-to-Market teams to accommodate this fantastic growth. And we’re just getting started. We can’t wait to unveil 2024’s slate of product enhancements and programs that will take Torq to the next level.”
