ReliaQuest Secures $500M Funding at $3.4B Valuation to Expand AI-Driven Cybersecurity

ReliaQuest raises $500M at $3.4B valuation to expand AI-driven cybersecurity - SiliconANGLE

ReliaQuest raises $500M at $3.4B valuation to expand AI-driven cybersecurity Artificial intelligence-powered security operations company ReliaQuest LLC announced today that it had raised more than $500 million in new funding on a $3.4 billion valuation to support continued growth, increase innovation in Agentic AI-driven cybersecurity automation and to support the company's ongoing international expansion. Founded in 2007, ReliaQuest is a cybersecurity technology company that specializes in enhancing enterprise security operations. The company has as its mission to "make security possible" by providing organizations with increased visibility and the ability to confidently automate across the security lifecycle. ReliaQuest's main product, GreyMatter, is a technology-agnostic security operations platform that was built on an open extended detection and response architecture. GreyMatter integrates with over 200 different cybersecurity and enterprise tools to deliver threat detection, investigation and response across complex IT environments. The platform allows security teams to detect, contain, investigate and respond to cyber threats across a variety of cyber solutions within minutes, all while eliminating the most mundane work out of cybersecurity and delivering more value from existing investments. The Agentic AI models in GreyMatter can operate and learn autonomously, addressing security challenges by automating security processes and significantly reducing the time to contain threats. ReliaQuest claims that using GreyMatter's automation and AI capabilities, customers can perform investigations twenty times faster and with 30% greater accuracy than traditional methods, containing threats within less than five minutes and allowing security teams to focus on higher-level business needs rather than mundane tasks. ReliaQuest has seen strong demand for its services, with the company counting among its customers Southwest Airlines Co., Campbell Soup Company, Abercrombie & Fitch Co., Darden Restaurants Inc., Hanesbrands Inc., Boston Celtics and APi Group Corp. The funding round was led by EQT Partners AB, Kohlberg Kravis Roberts & Co. L.P. (KKR) and FTV Capital, with existing investors Ten Eleven Ventures and Finback Investment Partners also participating. "Everything we have done at ReliaQuest has always been driven by the problem we solve for our customers," said Brian Murphy, founder and chief executive officer of ReliaQuest, in a statement. "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." "This new investment is a key step along our growth trajectory as a company, but most importantly, it will allow us to deliver better security outcomes for even more CISOs around the world," added Murphy.

AI-powered cybersecurity firm ReliaQuest valued at $3.4 billion in latest funding round

(Adds funding background in paragraph 3, details on latest round in paragraphs 4 and 5) March 31 - AI-powered cybersecurity firm ReliaQuest said on Monday it has raised more than $500 million in a funding round led by EQT, KKR and FTV Capital, valuing it at $3.4 billion. Investor enthusiasm for artificial intelligence has been strong as businesses race to integrate AI-driven efficiencies into their operations, while rapidly increasing sophisticated cyberattacks have boosted demand for more effective security. ReliaQuest was valued at more than $1 billion in 2021 after a funding round led by KKR. The latest funding will support innovations in its Agentic AI-driven cybersecurity automation and international expansion, the company said. Other investors in the round included Ten Eleven Ventures and Finback Investment Partners. Founded in 2007 by Brian Murphy, ReliaQuest provides AI-driven security to large enterprises through its technology platform, GreyMatter, which allows its clients to detect, contain, investigate and respond to cyber threats. (Reporting by Prakhar Srivastava in Bengaluru; Editing by Shinjini Ganguli)