Cybersecurity company ReliaQuest has raised more than $500 million in a new funding round that values the company at $3.4 billion. The round was led by EQT, KKR and FTV Capital, with participation from Ten Eleven Ventures and Finback Investment Partners.
The funding will support continued innovation in ReliaQuest’s AI-driven security platform, GreyMatter, and fuel international growth. The company’s platform integrates with over 200 cybersecurity tools to help enterprises detect and respond to threats faster and more efficiently.
ReliaQuest’s Annual Recurring Revenue has grown more than fourfold since 2020, recently surpassing $300 million. The company is growing at over 30% year-over-year and is operating profitably.
ReliaQuest uses its GreyMatter platform to automate investigations, reduce threat containment time to under five minutes and increase accuracy by 30%, compared to traditional methods.
Goldman Sachs & Co. served as the exclusive financial advisor to ReliaQuest. Legal counsel was provided by Gibson Dunn for ReliaQuest and KKR, and by Freshfields and Piper Sandler for EQT.