AI-backed Cybersecurity Firm ReliaQuest Valued at £2.5bn

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 commitment to solving problems for its users.

 “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,” added Murphy.

The investment will be used to provide better security outcomes for CISOs at the more than 1,000 customers 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 platform gives IT security teams the ability to detect, contain, investigate and respond to threats in less than five minutes, due to the use of advanced AI and automation. Compared to traditional cybersecurity methods, ReliaQuest claims its users can perform investigations 20 times faster and with 30% greater accuracy.

“When we first invested in ReliaQuest in 2020, we recognised its enormous potential given the rise of cyberattacks and the challenges cybersecurity teams 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 software platform, a relentless focus on innovation and a unique company culture.”

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