ReliaQuest, a leader in AI-powered security operations, today announced a new funding round of more than $500 million led by EQT, KKR and FTV Capital, with participation from other existing investors Ten Eleven Ventures and Finback Investment Partners.
The funding round brings ReliaQuest’s valuation to $3.4 billion. This new funding will support ReliaQuest’s continued growth, fueling further innovation in Agentic AI-driven cybersecurity automation and supporting the company’s ongoing international expansion.
ReliaQuest has established itself as a global cybersecurity leader, delivering a differentiated, AI-driven approach to security operations for large enterprises.
The company’s technology platform, GreyMatter, seamlessly integrates with over 200 different cybersecurity tools, allowing security teams to leverage their current or future technology stack to drive greater visibility and AI-driven automation.
This enables security teams to detect, contain, investigate and respond to cyber threats across a variety of cyber solutions within minutes, all while eliminating the most mundane work out of cybersecurity and delivering more value from existing investments.
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This latest round of funding comes at a time of accelerating growth for ReliaQuest. Since the company’s last funding round led by KKR in 2020, the company has grown Annual Recurring Revenue more than 4x – recently surpassing $300 million. ReliaQuest is currently growing at more than 30% year-over-year and operating profitably.
Brian Murphy, ReliaQuest founder and CEO said, “Everything we have done at ReliaQuest has always been driven by the problem we solve for our customers. Enterprise security teams have more data in more places than ever before, and the speed of the threat is rapidly increasing. CISOs need a way to contain threats within minutes without added cost or technical overhead, leveraging the latest innovations in Agentic AI, This new investment is a key step along our growth trajectory as a company, but most importantly it will allow us to deliver better security outcomes for even more CISOs around the world.”
Kirk Lepke, Partner in the EQT Growth advisory team said, “Brian’s passion and dedication to building a world-class, mindset-driven organization is at the core of ReliaQuest’s success and sets a strong foundation upon which to build a category-defining cybersecurity company,”.
Kirk Lepke, Partner in the EQT Growth advisory team said ,“By enriching GreyMatter with AI and automation capabilities, ReliaQuest has accelerated ahead of the pack, and now stands out as one of the only software vendors capable of managing security operations for the most complex enterprise environments. We are delighted to lead this funding round and look forward to supporting the company with our global platform as they continue to deliver solutions needed to push the industry forward.”
Stephen Shanley, Partner and Head of Tech Growth in Europe at KKR said, “When we first invested in ReliaQuest in 2020, we recognized its enormous potential given the rise of cyberattacks and the challenges cybersecurity teams faced in managing a multitude of tools with limited manpower. Over the years, the company has transformed with its leading AI-driven software platform, a relentless focus on innovation and a unique company culture,”.
Patrick Devine, Managing Director at KKR, continued: “We are thrilled to continue working with Brian and the entire ReliaQuest team as they enter the next phase of their journey.”
Kyle Griswold, Partner at FTV Capital said, “Having partnered with ReliaQuest for nearly a decade, we’ve witnessed first-hand Brian’s visionary leadership and the team’s exceptional ability to innovate and execute as they scaled from a bootstrapped startup to a leading global player in the cybersecurity ecosystem, With consistent outperformance and a proven track record of serving many of the world’s largest enterprises, it’s clear that ReliaQuest’s AI-driven platform is uniquely positioned to empower customers with a best-of-breed approach towards cybersecurity, improving automation, operational efficiencies and, most critically, results. As ReliaQuest continues to shape the future of security operations, we are proud to continue our partnership for another successful era of growth ahead.”
About ReliaQuest
ReliaQuest exists to Make Security Possible. Our Agentic AI-powered security operations platform, GreyMatter, allows security teams to detect threats at the source, contain, investigate and respond in less than 5 minutes—eliminating Tier 1 and Tier 2 security operations work. GreyMatter uses data-stitching, detection-at-source, AI, and automation to seamlessly connect telemetry from across cloud, multicloud, and on-premises technologies.
