Freshworks agrees to buy Torii to track SaaS and AI spending

Freshworks agrees to buy Torii to track SaaS and AI spending

12 October 2026: Freshworks has signed a definitive agreement to acquire Torii, a SaaS management platform, and plans to fold it into Freshservice, its IT service management product. The aim is one record of every application, licence, user and AI tool a company runs, together with what each costs. Neither side has disclosed a price. Freshworks expects the deal to close in its fourth fiscal quarter of 2026, subject to customary closing conditions.

What Torii brings

Torii was founded in 2017 by Uri Haramati, who is its chief executive, with co-founders Tal and Uri Nativ. Its software discovers the applications employees use, including ones IT never approved, and tracks licences, owners, renewals and access. Freshworks' release highlights the newer part of the product: Torii "tracks AI consumption to the token", attributes it to the people and teams using it, and forecasts where it is heading, so IT can charge the cost back, set limits and catch a spike early.

Torii says it has been named a Leader in Gartner's Magic Quadrant for SaaS Management Platforms for the third year running. Freshworks names Hearst, Groupon and Koch among its customers.

Why an ITSM vendor wants it

Haramati's own post makes the case that software management cannot sit in a separate tool any more. It has to live where access is granted and offboarding happens, which for most IT teams is the service desk, the CMDB and the asset and contract workflows around it. "Extending that to software and AI means one less blind spot, not one more dashboard," he wrote.

Dennis Woodside, Freshworks' chief executive, framed it as a finance problem as much as an IT one: "what's running, who's using it, and what it costs, so finance and IT stop reconciling spreadsheets and start making decisions together."

The pressure comes from consumption pricing. A seat licence is easy to budget for; a model API billed per token, used by a dozen teams, is not, and most finance systems were never built to track it.

What existing customers should know

Until the deal closes, Torii says the two companies operate separately and nothing changes for its customers. Torii integrates with service desks other than Freshservice, so buyers who use it alongside another ITSM platform should ask how long those integrations will be maintained once it becomes part of Freshworks, and whether Torii will still be sold on its own.

In our catalogue

We list Freshworks as a company. Our SaaS management category lists 20 products, including BetterCloud and Cleanshelf, and our service desk category lists 17, among them InvGate Service Desk.

Company profile on TrustList: Torii

Sources

• Freshworks: press release on the agreement to acquire Torii, 12 October 2026
• Torii: Torii Signs Agreement to Join Freshworks (Uri Haramati), 12 October 2026
• Inc42: Freshworks to acquire Torii, 13 October 2026