SiliconAngle reports that nearly $160 million in new investments have been cumulatively secured by cybersecurity startups Silverfort and Torq Technologies.
Tel Aviv- and Boston-based identity security firm Silverfort has pulled in $116 million from a Series D funding round, with the newly secured funds to be allocated toward strengthening its artificial intelligence-powered platform's capabilities in identifying malicious cyber activity and easing service account management. Additional workforce and channel partnerships are also being planned by the company.
On the other hand, an extended Series B investment round has raised $42 million for New York-based Torq, which offers a cybersecurity hyperautomation platform that could facilitate ransomware-encrypted file recovery and malicious login blocking. Torq has also touted the inclusion of the new Socrates AI tool within its platform to examine data gathered by antivirus systems.
"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. We doubled our sales and go-to-market teams to accommodate this fantastic growth," said Torq co-founder and CEO Ofer Smadari.
