ReliaQuest Reaches USD 3.4 Billion Valuation with EQT-Led Funding
Deal News | Mar 31, 2025 | PR Newswire Cision EQT
ReliaQuest, a leader in AI-powered security operations, has secured over USD 500 million in a growth funding round led by EQT Growth and participated by existing investors KKR and FTV Capital, as well as new participants Ten Eleven Ventures and Finback Investment Partners. This investment values the US-based company at USD 3.4 billion. ReliaQuest is known for its GreyMatter technology platform, which incorporates artificial intelligence to enhance cybersecurity operations by integrating with over 200 cybersecurity tools. The company has demonstrated significant growth, with recurring revenue surpassing USD 300 million, growing over fourfold since its last funding round in 2020, and is profitable while growing at more than 30% year-over-year. The funding will support the company's continued expansion and development of AI-driven cybersecurity solutions. Brian Murphy, founder and CEO of ReliaQuest, emphasized that the investment will help deliver better outcomes for enterprise CISOs globally, while EQT's Kirk Lepke praised ReliaQuest's innovative approach. EQT Growth received advisory support from Piper Sandler and Freshfields US LLP.
Sectors
- Cybersecurity
- Private Equity
- Information Technology
Geography
- United States – ReliaQuest is a US-based company, and the funding supports its global expansion from a US foundation.
- Sweden – EQT is a private equity firm headquartered in Stockholm, Sweden, involved in the funding round.
Industry
- Cybersecurity – ReliaQuest is prominently involved in cybersecurity solutions, particularly through its AI-driven platform GreyMatter.
- Private Equity – The article discusses a significant investment by EQT Growth, a private equity firm, in ReliaQuest.
- Information Technology – ReliaQuest operates within the wider IT sector, focusing on technology solutions for security operations.
Financials
- USD 500 million – The amount raised in the funding round led by EQT.
- USD 3.4 billion – The valuation of ReliaQuest following the funding round.
- USD 300 million – Annual Recurring Revenue recently surpassed by ReliaQuest.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ReliaQuest | Target Company | Company | A leader in AI-powered security operations, providing cybersecurity solutions to enterprises. |
| EQT Growth | Investment Firm | Company | A private equity firm leading the current funding round for ReliaQuest. |
| KKR | Existing Investor | Company | Participated as an existing investor in the latest funding round. |
| FTV Capital | Existing Investor | Company | An existing investor participating in the funding round. |
| Ten Eleven Ventures | Investor | Company | A new investor joining the funding round. |
| Finback Investment Partners | Investor | Company | A new investor joining the funding round. |
| Brian Murphy | CEO | Person | Founder and CEO of ReliaQuest, emphasizing the importance of the investment. |
| Kirk Lepke | Partner | Person | Partner in the EQT Growth advisory team, supporting ReliaQuest's strategic direction. |
| Piper Sandler | Advisor | Company | Provided advisory support to EQT Growth in the funding round. |
| Freshfields US LLP | Legal Advisor | Company | Provided legal advisory services to EQT Growth. |