AI-powered cybersecurity business ReliaQuest has raised more than £379.4 million ($ 500 million ) in a funding round led by EQT, KKR and FTV Capital, at a time when cybersecurity risks are evolving and becoming increasingly sophisticated.
Now valued at £2.5 billion ($ 3.4 billion ), ReliaQuest’s technology platform, called GreyMatter, integrates over 200 different cybersecurity tools, giving IT teams a comprehensive suite of security options.
Brian Murphy, Founder and CEO of ReliaQuest, stated that the company has always been driven by a responsibility to solving problems for its customers.
 ,” Business security groups have more data in more places than ever before, and the speed of the risk is swiftly increasing. CISOs need a way to have challenges within minutes without added expense or professional costs, leveraging the latest innovations in Agentic AI”, added Murphy.
The funding will be used to provide better security benefits for CISOs at the more than 1, 000 consumers that use ReliaQuest. The last funding round in 2020 was led by KKR and the company has achieved annual recurring revenue of over £227.7 million ($ 300 million ), with ReliaQuest growing at more than 30 % each year.
According to ReliaQuest, the GreyMatter system gives IT security teams the ability to identify, have, investigate and respond to threats in less than five minutes, according to the use of advanced AI and automation. Compared to traditional security procedures, ReliaQuest claims its users can perform studies 20 times faster and with 30 % greater accuracy.
” When we first invested in ReliaQuest in 2020, we recognised its massive possible given the rise of attacks and the problems security team faced in managing a multitude of tools with limited manpower”, said Stephen Shanley, Partner and Head of Tech Growth in Europe at KKR.
Shanley added over the years the company has” transformed with its leading AI-driven application platform, a relentless focus on innovation and a unique business society”.