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ReliaQuest Valued at More Than One Billion Dollars Following Growth Round Led By KKR
New funding round led by existing investor KKR to be used to further accelerate ReliaQuest's ongoing global expansion and development of the GreyMatter Open XDR platform
Whether organizations need fully managed detection and response (MDR), co-managed security operations, or an automated Open XDR platform, ReliaQuest delivers the outcomes and board-ready reporting that organizations require to solve the most challenging aspects of cybersecurity while maturing their programs over time. The ReliaQuest GreyMatter platform, backed by 24/7/365 security expertise, force multiplies security operations delivering unified detection and response with transparency and automation.
"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," said Brian Murphy, CEO of ReliaQuest. "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."
This latest round of investment marks a momentous year for ReliaQuest (http://www.reliaquest.com/
Surpassing $100M in annual recurring revenue
More than doubling number of new customers year-over-year
Adding key executives, including Chief Product Officer Brian Foster, Vice President and head of engineering Paul Kraus and Chief Marketing Officer Alex Bender
Expanding the board with industry veterans, including Mike Burkland, John Spiliotis, John Fernandez and Kara Wilson
Securing a patent for the GreyMatter Universal Translator's (https://www.reliaquest.com/
Adding new capabilities within the GreyMatter platform, including the innovative Model Index for program measurement and reporting and Verify for breach and attack capabilities
"Over the past several years, we've seen ReliaQuest evolve its solution into a leading platform that is highly capable of solving security challenges for organizations across industries and geographies,"
KKR will be making the investment through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space.