The news: Portland, Ore.-based startup Torq landed a $50 million Series B round. Founded last year, the 71-person company helps customers automate their security processes.
The gist: Torq’s no-code software aims to accelerate security operations and help companies respond to threats faster. It connects security tools together and automates workflows. Customers include Agoda, Healthy.io, Lemonade, and others.
The founders: Torq is led by co-founders Ofer Smadari, Leonid Belkind, and Eldad Livni. They previously co-founded Luminate Security, which was acquired by Symantec in 2019.
The investors: New York City-based Insight Partners led the round, which included participation from SentinelOne, Bessemer Venture Partners, and GGV Capital. Total funding to date is $78 million.
Last word: Torq is one of many security startups seeing a big boost in business amid various cyberattacks and breaches. Investors are taking note — more than $14 billion has been invested in cybersecurity companies this year, up from a previous record of $7.8 billion last year, Crunchbase reported.
