Tampa, Fla. based , one of the hottest cybersecurity startups, has raised more than$ 500 million in a round co-led by Sweden’s EQT, KKR and New York-based FTV Capital. Existing owners Ten Eleven Ventures, a West Coast company with headquarters in Boston, and Finback Investment Partners, of Coral Gables, Fla., participated.
The staggering funding round raised ReliaQuest’s pricing to$ 3.4 billion, as the organization advances development in agentic AI-driven cybersecurity automation, and continued global expansion.
“Cybersecurity is the largest complex issue of our era, and the CISOs and safety teams who have signed up for this problem are some of the most talented and motivated entrepreneurs I’ve ever met”, ReliaQuest co-founder and CEO said on Linked In. ” I’m fired up about how much more we can do together, as we continue to innovate with our AI-powered security operations platform”. Murphy, who has a degree in finance and accounting, earlier was head of Florida’s startup hub Embarc Collective.
ReliaQuest leans on an AI-focused method to security, as international threats mount. Its tech platform called GreyMatter integrates with above 200 different security tools. Since the company’s last funding round led by KKR in 2020, ReliaQuest says its annual recurring revenue has grown more than 4x – just surpassing$ 300 million. It also claims to be successful and growing at over 30 % year over year. The firm claims 1, 000 clients.
” When we first invested in ReliaQuest in 2020, we recognized 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. ” Over the years, the company has transformed with its leading AI-driven application platform, a relentless focus on innovation and a special business society”.
FTV Capital partner Kyle Griswold said he has “witnessed first-hand Brian’s visionary leadership”, as he transformed a bootstrapped startup into a leading global player in the cybersecurity ecosystem.
” With consistent outperformance and a proven track record of serving many of the world’s largest enterprises, it’s clear that ReliaQuest’s AI-driven platform is uniquely positioned to empower customers with a best-of-breed approach towards cybersecurity, improving automation, operational efficiencies and, most critically, results”, Grisworld said.