Torq Raises $ 50 Million Series B For Its Codeless Security Automation Platform – TechCrunch
Torq, a codeless security automation startup based in Portland, Ore. Formerly known as StackPulse, today announced it has raised a $ 50 million Series B funding round led by Insight Partners . New investor SentinelOne, the publicly traded terminal security platform, also participated in this round, along with 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, although we tend to see less of them in the security space. Torq, which has NS1, eToro, Armis, and Healthy.io users, uses an easy-to-use graphical interface to help security teams automate routing workflows between security products. In this regard, it’s not that different from a Microsoft Power Automate, but with a special focus on security.
The promise of Torq is that it can bring together the complex jumble of security tools that modern businesses now deploy to protect their data. Service workflows can be triggered at regular intervals or from alerts. These could be simple workflows like responding to Slack requests from employees for privileged access to a cloud resource, for example, or automating the process of scanning a suspicious file.
âTorq’s automation has transformed the way our team manages security,â said Jonathan Jaffe, CISO at Lemonade. âFor example, using Torq to manage web application firewall blocking rules has reduced the time it takes to block malicious traffic by 70 times and increased coverage to over 90 times. %, a significant improvement. “
As Ofer Smadari, CEO and co-founder of Torq noted, the company has spent the time between its last funding round and today focusing on the overall user experience. âWe have made significant investments in the user experience, which makes it easier for users to connect to other systems, create more complex workflows, and improve the speed and responsiveness of the interface. “, did he declare. âWe’ve invested heavily in scalability and resiliency from the start to ensure Torq supports businesses at all scales.
The company plans to use the new funding to support its growing number of customers and prospects as they increase their use of the service. According to Smadari, the average number of workflows a customer runs on the service is currently increasing 2-3 times per week. âOnce a customer starts up, it expands quickly. It is essential to ensure that we are built to support this growth – before it happens – âsaid Smadari.
And while Torq itself was designed to address some of the security industry‘s talent shortage by freeing security teams from routine tasks, Smadari also noted that his company’s biggest challenge in this time is hiring.
âTorq’s rapid success is a testament to how the platform makes it easier for security teams to deliver better protection in all aspects of the business,â said Steve Ward, Managing Director of Insight Partners. âWith its intuitive product and experienced team, Torq is quickly becoming an industry leader. We are excited to partner with the Torq team as they continue to grow.