Torq raises $50 Million Series B

Torq, a Portland, Oregon-based no-code security automation startup formerly known as StackPulse, announced that it has raised a $50 million Series B round led by Insight Partners. New investor SentinelOne, the publicly traded endpoint security platform, also participated in this round, as well as existing investors GGV Capital and Bessemer Venture Partners. This brings Torq’s total funding to date to $78 million.

No-code/low-code platforms are obviously all the rage these days, though they tend to see fewer of them in the security space. Torq, which counts the likes of NS1, eToro, Armis and Healthy.io among its users, uses an easy-to-use graphical interface to help security teams automate routing workflows across security products. In that respect, it’s not that different from Microsoft Power Automate, but with a singular focus on security.

The promise of Torq is that it can bring together the complex jumble of security tools that modern enterprises now deploy to keep their data safe. The service’s workflows can be triggered at regular intervals or from alerts. These can be simple workflows like reacting to Slack requests from employees for privileged access to a cloud resource, for example, or automating the analysis process of a suspicious file.

“Torq’s automation has transformed how our team manages security,” said Lemonade CISO Jonathan Jaffe. “As just one example, using Torq to manage web application firewall blocking rules reduced time to block malicious traffic by 70x, and increased coverage to over 90% — a significant improvement.”

As Torq CEO and co-founder Ofer Smadari noted, the company spent the time between its last funding round and focusing on the overall user experience. “We’ve made significant investments in the user experience — making it easier for users to connect other systems, create more complex workflows, and enhance speed and responsiveness of the interface,” he said. “We invested heavily in scalability and resilience from the onset to ensure that Torq supports enterprises at any scale.”

The company plans to use the new funding to support its growing number of customers and prospects as they scale their usage of the service. According to Smadari, the average number of workflows a customer runs on the service is currently growing 2-3x every week. “Once a customer gets started, they’re quick to expand. Making sure we are built to support this growth — before it happens — is essential,” said Smadari.

And while Torq itself was built to help with some of the talent shortage in the security industry by freeing up security teams from routine tasks, Smadari also noted that its company’s biggest challenge right now is hiring.

“Torq’s rapid success is a testament to how the platform makes it easier for security teams to deliver better protection across every aspect of the business,” said Steve Ward, managing director at Insight Partners. “With its intuitive product and experienced team, Torq is quickly becoming a leader in the industry. They are thrilled to partner with the Torq team as they continue to grow.”

Torq seems to be Simply Stronger Security in Minutes. I’m sure the company will continue to prosper in its journey ahead. My best wishes to the team of Torq.

Shishir Gupta, Founder and CEO, of StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at anisha@startuplanes.com