Business Venture

ReliaQuest Lands $300M Growth Financing For Global Expansion

ReliaQuest, a company developing a cybersecurity managed service and intelligence platform for global enterprises, said it brought in more than $300 million in growth financing in a round led by KKR, with participation from TenEleven Ventures and ReliaQuest’s founder and CEO Brian Murphy.

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The new investment gives the Tampa, Florida-based company approximately $330 million in funding since being founded in 2007. That includes a $30 million growth equity investment from FTV Capital in 2016, according to Crunchbase data.

The company said the new funds will be used to accelerate growth initiatives, including international expansion and platform development. Its GreyMatter product is touted as “the first cloud-native SaaS platform that consolidates, normalizes and correlates data from customers’ existing cyber technologies, vastly increasing visibility across the enterprise.”

“The investment from KKR and TenEleven is an important step that allows ReliaQuest to continue to scale globally while innovating and accelerating the development of the GreyMatter platform and follows what was a foundational investment from FTV four years ago,” Murphy said in a written statement.

ReliaQuest said its revenue has grown more than 450 percent in the past three years. To meet demand, the company expects to add another 100 employees by the end of the year.

KKR’s investment is through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space. The firm has invested more than $2.7 billion in related investments since 2014, according to a written release.

Illustration: iStock

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