{
  "id": 14244889,
  "title": "Freshworks To Acquire Torii To Expand AI Spend Governance Offerings",
  "url": "https://urgent.news/2026/10/13/freshworks-to-acquire-torii-to-expand-ai-spend-governance-offerings",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-13T16:27:21.000Z",
  "source": {
    "name": "Inc42",
    "slug": "inc42",
    "url": "https://inc42.com/buzz/freshworks-to-acquire-torii-to-expand-ai-spend-governance-offerings/"
  },
  "original_language": "en",
  "account": "Freshworks, a Nasdaq-listed SaaS company, has announced a definitive agreement to acquire Torii, a SaaS management platform. This acquisition aims to extend Freshworks' IT service management tool, Freshservice, into AI and software spend governance. The deal is set to close in the quarter ending December 2026. Established in 2017 by Uri Haramati, Uri Nativ, and Tal Bereznitskey in New York, Torii assists enterprises in tracking AI consumption at the token level, linking usage to specific internal teams, forecasting spend trajectories, and setting operational budget limits. By incorporating Torii's SaaS management capabilities into Freshservice, Freshworks intends to provide organizations with enhanced visibility of their AI usage. The integrated system equips IT and finance departments with ongoing monitoring, replacing manual spreadsheet reconciliation with real-time analytics. Freshworks CEO and President Dennis Woodside elucidated, \"Modern IT teams are being asked to govern more of the business than ever, with less visibility into what it costs. Freshservice already gives IT one place to see everything they run. With Torii, that same view now extends to software and AI spend — what's running, who's using it, and what it costs, so finance and IT stop reconciling spreadsheets and start making decisions together.\" Founded in 2010 by Girish Mathrubootham and Shanmugam Krishnasamy, Freshworks provides a range of cloud-based software solutions to aid companies in managing customer engagement, sales, IT service management, and marketing. Following Mathrubootham's exit in 2024, Freshworks has been striving to reinvent itself as an AI-native enterprise platform under Woodside's guidance. Apart from launching AI-led offerings such as vertical AI agents and workflow automation tools, it also underwent significant restructuring earlier this year, reducing its workforce by 11% or approximately 500 employees, citing automation of work. Freshworks' adoption of its AI products contributed to its return to profitability in the quarter ended June 2026, with a net profit of $3.2 Mn, as opposed to a net loss of $1.7 Mn in the same period the previous year, and a net loss of $4.8 Mn in the prior quarter. Meanwhile, its revenue increased by 16% YoY to $237.4 Mn.",
  "summary": "Nasdaq-listed SaaS major Freshworks has signed a definitive agreement to acquire Torii, a SaaS management platform, to extend its IT…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}