Torii Signs Agreement to Join Freshworks

Torii has entered into a definitive agreement to be acquired by Freshworks (NASDAQ: FRSH). We expect to close in Freshworks’ fourth fiscal quarter of 2026, subject to customary closing conditions. Until then, we continue to operate as two separate, independent companies, and nothing changes for our customers today.

Why this is the right next step

Tal, Uri Nativ, and I started Torii in 2017 with a problem we could not get anyone to care about. Software was piling up inside companies faster than any team could keep track of it, and every tool we looked at covered one slice of the picture. Nobody could answer the basic questions. What do we have? Who uses it? What does it cost? We wanted one piece of software to manage all software. Most of the people we pitched told us that was not a real category, so we built it ourselves.

Others followed, and SaaS management became a category. This year, Torii was named a Leader in the 2026 Gartner® Magic Quadrant™ for SaaS Management Platforms, for the third consecutive year.

Nearly a decade later the problem is bigger, and AI has made it harder. Consumption pricing does not fit the way anyone budgets for software, and most of these tools arrive without IT hearing about them. Fixing that at scale means software management cannot sit in a tool of its own. It has to run inside the systems IT already uses: the service desk where access gets granted and offboarding happens, the CMDB where the rest of the estate is tracked, and the ITAM and ITSM workflows where contracts, renewals, and approvals already live. Software is the layer that has been missing from all of it.

So today, we’re sharing our news: Freshworks has entered into a definitive agreement to acquire Torii. Freshservice is already where IT teams across industries and geographies run their day-to-day operations, and Torii extends that same footprint into software and AI spend.

Freshworks has spent years on the hardware and infrastructure side of the estate, and on the service desk that runs on top of it. The piece it has not had is software: which applications are actually in use, who is using them, what the licenses cost, and what AI is quietly running up in consumption charges. That is what we have spent nine years building. Put the two together and IT teams can manage all of it in one place instead of stitching it together across separate tools.

What this means for customers

Between signing and closing, Torii operates as an independent company. Your instance, your integrations, your workflows, your support contacts and your renewal terms are exactly where they were yesterday. The roadmap has not changed, our product teams are working on the same projects they were working on last week, and we are still shipping and still signing new customers.

What changes over time is what stands behind the product. Freshservice already runs inside IT organizations around the world. The software and AI governance you bought from Torii will sit next to the service desk, the CMDB, and the asset management those teams use every day, instead of living in a separate tool somebody has to remember to open. Many of you brought Torii in when this problem was not on anyone’s priority list, and you argued for it internally before it was obvious. That is the reason we are here. Thank you. Once the deal closes, we’ll share more about what we’re building together.

If you have questions, please reach out to your Torii contact.

This post contains forward-looking statements. The transaction is subject to customary closing conditions, and there can be no assurance as to its timing or completion.