Freshworks to Acquire Torii to Expand AI Spend Governance
Nasdaq-listed Freshworks has signed an agreement to acquire Torii, a SaaS management platform, to enhance its Freshservice IT service management tool with AI and software spend governance capabilities.
Freshworks, a Nasdaq-listed software company, has entered into a definitive agreement to acquire Torii, a Software as a Service (SaaS) management platform. This acquisition aims to expand the capabilities of Freshworks' IT service management tool, Freshservice, by integrating features for AI and software spend governance.
Torii, founded in 2017, provides tools for enterprises to track AI consumption, attribute usage to specific teams, forecast spending, and set budget limits. The integration into Freshservice is intended to give organizations enhanced visibility into their AI usage and associated costs.
The transaction is expected to close by the end of the fourth quarter of 2026. The combined solution aims to provide IT and finance departments with real-time analytics, replacing manual reconciliation processes with continuous oversight.
Freshworks, which offers a suite of cloud-based software for customer engagement, sales, IT service management, and marketing, has been focusing on transforming into an AI-native enterprise platform. The company reported a return to profitability in the quarter ending June 2026, partly driven by increasing adoption of its AI products.