Freshworks agrees to acquire Torii for AI spend governance

Freshworks has signed a definitive agreement to acquire Torii, extending its Freshservice platform into software management and AI spend governance, the company announced in a press release. The deal is expected to close in Freshworks' fourth fiscal quarter of 2026, subject to customary closing conditions.

Torii tracks applications, licenses, identities and usage across an organization. According to Freshworks, it tracks AI consumption down to the token, attributes it to the people and teams driving it and forecasts where it is heading, so IT can charge it back, set limits and catch spikes early. Torii was recently named a Leader in the 2026 Gartner Magic Quadrant for SaaS Management Platforms, the release says.

The financial terms were not disclosed, though the deal is estimated to be relatively small, Calcalist reports. Torii, an Israeli company founded in 2017, has raised $65 million, most recently a $50 million Series B led by Tiger Global Management in 2022.