ReliaQuest has revealed a substantial funding boost of more than $500m led by EQT, KKR, and FTV Capital, with further backing from existing investors Ten Eleven Ventures and Finback Investment Partners.
This latest financial endorsement by such investors elevates ReliaQuest’s valuation to an impressive $3.4bn.
ReliaQuest stands out in the cybersecurity sector by delivering a unique AI-driven approach to security operations. The company’s flagship technology platform, GreyMatter, integrates seamlessly with over 200 different cybersecurity tools. This integration enables security teams to enhance their operational visibility and leverage AI-driven automation to effectively detect, investigate, and respond to cyber threats rapidly across their existing tech stacks, streamlining operations and maximizing the value from their investments.
The newly acquired funds are earmarked to propel ReliaQuest’s ongoing growth and innovation in AI-driven cybersecurity automation. Moreover, the investment will aid the company’s strategic international expansion, as it aims to strengthen its global presence.
This funding round marks a significant period of growth acceleration for ReliaQuest, which has seen its Annual Recurring Revenue grow more than fourfold since its last investment round in 2020, led by KKR, topping $300m. The company is currently expanding at a rate of over 30% annually and maintains a profitable operation.
Brian Murphy, founder and CEO of ReliaQuest, highlighted the strategic importance of the investment. “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,” he said. “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.”
Supporting Murphy’s sentiment, Kirk Lepke, Partner in the EQT Growth advisory team, added, “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.”
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