CyberTech company Reliaquest nabs another $300m

Reliaquest, which offers an open extended detection and response service, has scored $300m in fresh funding.

The round was led by existing investor KKR, with capital also coming from Ten Eleven Ventures, FTV Capital and Reliaquest founder Brian Murphy.

Funds from the round will be used to support the expansion of its business operations and the development of its GreyMatter solution. GreyMatter provides threat detection content that is continuously tuned to a client’s environment. Its technology lets a company understand business risk prioritised against the most valuable assets.

Its technology supports risk management, cloud security, security automation, threat hunting, and support against phishing and ransomware.

The fresh funding comes after a strong year of growth, culminating in it surpassing $100m in annual recurring revenue. Other notable milestones include it doubling the number of new customers year-over-year, making several key executive hires and releasing new features for its platform.

ReliaQuest CEO Brian Murphy said, “Customers are gravitating to our Open XDR approach to deliver tailored security outcomes for their organization and are embracing ReliaQuest as a true force-multiplier for their security program.

“This investment allows us to both increase our market presence and continue to innovate on our GreyMatter cloud-native platform. KKR, Ten Eleven and FTV have been in lockstep with us as the momentum builds in the market and they continue to invest in our strategic partnership to accelerate growth as we expand across the world.”

The CyberTech company previously raised $300m in a funding round in 2020, which was led by KKR.

Several cybersecurity companies have raised funds this week. Among them is Blue Lava, which secured $7.5m in its extended Series A round. The company offers a security platform that helps companies get a better understanding of their security posture and where the gaps are.

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