ReliaQuest, a security operations firm based in Tampa, Florida, has raised $500 million in its latest funding round. The investment, which brings the company’s total valuation to $3.4 billion, was led by EQT, KKR, and FTV Capital. ReliaQuest plans to use this funding to enhance its AI-powered GreyMatter platform, which automates security processes and expands its operations internationally. This funding round follows a period of significant growth, with the company reporting over $300 million in annual recurring revenue and expanding its customer base.
Founded in 2007, ReliaQuest has grown rapidly and now employs around 1,100 people. The company’s GreyMatter platform uses agentic AI to automate security operations, which helps reduce the time needed to contain threats and increases the accuracy of threat responses. ReliaQuest claims that its platform allows security teams to perform investigations 20 times faster than traditional methods, leading to a more efficient approach to cybersecurity management. This technological advantage has helped the company stand out in the highly competitive cybersecurity market.
In addition to the GreyMatter platform, ReliaQuest acquired Digital Shadows in 2022 to bolster its capabilities in threat intelligence, attack surface management, and dark web monitoring. The acquisition was part of the company’s strategy to provide customers with comprehensive cybersecurity solutions across their networks, endpoints, and cloud environments. With this enhanced offering, ReliaQuest aims to give security teams better visibility and more contextual information when addressing potential threats.
ReliaQuest has consistently demonstrated its ability to adapt to the evolving cybersecurity landscape, earning recognition from analysts like Forrester for its AI-driven software. As a result of its strong performance and innovative approach, the company is poised for further expansion, both in terms of technological development and international reach. This latest round of funding will enable ReliaQuest to continue building on its success and further refine its platform, improving outcomes for customers worldwide.
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