ReliaQuest Valued at $3.4 Billion After EQT-Led Funding Round

EQT has announced that its EQT Growth fund, along with existing investors KKR and FTV Capital, has spearheaded a substantial growth funding round exceeding USD 500 million for ReliaQuest, a prominent player in AI-powered security operations. This latest infusion of funding propels ReliaQuest's valuation to USD 3.4 billion, and the round also includes participation from Ten Eleven Ventures and Finback Investment Partners. ReliaQuest stands as a leading force globally in cybersecurity, offering a unique AI-driven methodology through its GreyMatter platform, which integrates with over 200 security tools to provide comprehensive, automated security operations. Since its last funding round in 2020, ReliaQuest has quadrupled its Annual Recurring Revenue and is currently witnessing over 30% growth year-on-year, maintaining profitability. The company's focus is on enhancing its AI-driven offerings and expanding its international footprint. ReliaQuest's founder and CEO, Brian Murphy, emphasizes the company's commitment to resolving pressing cybersecurity challenges faced by enterprises, enabling rapid threat containment and response without increasing costs. EQT and its advisory partner Piper Sandler facilitated this strategic funding endeavor, reinforcing ReliaQuest's capabilities to deliver enhanced security solutions to Chief Information Security Officers (CISOs) globally.