ReliaQuest, an AI-powered security operations company, has closed a new funding round of more than $500 million, taking its valuation to $3.4 billion. The round was led by EQT, KKR, and FTV Capital, with participation from existing investors Ten Eleven Ventures and Finback Investment Partners. The funds will be used by the company to develop its Agentic AI-powered cybersecurity automation capabilities and fuel international expansion.

Driving Growth and Building Capabilities

ReliaQuest has experienced rapid growth since its previous funding round in 2020, with annual recurring revenue (ARR) increasing over four times to over $300 million. The company is now expanding at a rate of over 30% year-over-year while maintaining profitability. This growth is being driven by the increasing need for sophisticated, AI-based security operations within enterprise environments.

At the center of ReliaQuest's solution is GreyMatter, its cloud-native platform that aggregates with over 200 security tools. GreyMatter allows businesses to see in real-time and automatically detect threats, investigate, and respond across the whole security stack, substantially lowering manual workload and response times.

AI and Automation at the Forefront

ReliaQuest’s GreyMatter platform leverages Agentic AI models capable of autonomous operation and learning, allowing security teams to respond to cyber threats in under five minutes. The platform reportedly enables customers to conduct investigations 20 times faster and with 30% more accuracy compared to traditional methods.

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.”

He added, “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.”

Also read: SplxAI Raises $7 Million to Advance Security for Agentic AI Applications

Addressing the Urgency of Modern Threats

ReliaQuest's latest Cyber-Threat Report indicates that attackers now have the capability to laterally move across networks in 48 minutes. This underscores the need for accelerated response capabilities, and ReliaQuest is working towards this through its AI-driven platform.

The new funding will help the company improve its R&D activities, broaden its global reach, and keep delivering innovative solutions to counter advanced cyber threats.

Goldman Sachs & Co. LLC acted as sole financial advisor to ReliaQuest, and Gibson Dunn as legal adviser to both ReliaQuest and KKR. EQT Growth also received advisory services from Piper Sandler and legal advice from Freshfields US LLP.

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