ReliaQuest announced a funding round exceeding $500 million led by EQT, KKR, and FTV Capital, along with participation from current investors Ten Eleven Ventures and Finback Investment Partners. With this investment, ReliaQuest’s valuation has reached $3.4 billion, which will assist in enhancing its AI-driven cybersecurity automation and support its international growth.

The company has reported a significant increase in Annual Recurring Revenue, exceeding $300 million and achieving over 30% year-over-year growth since its previous funding round in 2020, while also operating profitably.

CEO Brian Murphy stated, “Enterprise security teams have more data in more places than ever before, and the speed of the threat is rapidly increasing.” He emphasized that this investment will enable better security outcomes for clients globally.

Kirk Lepke, Partner at EQT Growth, highlighted ReliaQuest's use of Artificial Intelligence (AI) and automation in its GreyMatter platform, positioning it as a notable player in managing complex security operations. Stephen Shanley and Patrick Devine from KKR expressed their commitment to the company's future development.

The secure operations platform GreyMatter facilitates rapid threat response, enabling customers to contain threats within minutes and allowing security teams to transition from routine tasks to strategic initiatives.

Goldman Sachs & Co LLC served as the financial advisor for this round, with Gibson Dunn providing legal counsel to ReliaQuest and KKR, while EQT Growth was advised by Piper Sandler and Freshfields US LLP.