EQT Successfully Leads Over $500 Million Funding Round for ReliaQuest in AI Security Operations

On March 31, 2025, EQT announced a remarkable achievement in the tech investment landscape, leading a growth funding round that brought in over $500 million for ReliaQuest, a leader in the realm of AI-powered security operations. This funding round, which included participation from other notable investors like KKR and FTV Capital, has positioned ReliaQuest's valuation at an impressive $3.4 billion. Additionally, Ten Eleven Ventures and Finback Investment Partners also contributed to this funding round.

The Purpose Behind the Investment

The influx of capital is set to propel ReliaQuest's growth trajectory further, focusing on enhancing the company's innovative capabilities in agentic AI-driven cybersecurity automation. The investment will bolster the firm's ongoing international expansion efforts and its ability to deliver cutting-edge solutions tailored for large enterprises grappling with sophisticated cyber threats.

ReliaQuest stands out as a global leader in cybersecurity, primarily due to its unique technology platform, GreyMatter. This platform integrates seamlessly with over 200 different cybersecurity tools, enabling security teams to optimize their existing technology stacks, thus fostering visibility and automation driven by AI. This advanced capability allows security professionals to swiftly detect, contain, investigate, and respond to cyber threats across various solutions within minutes, effectively reducing the burden of routine cybersecurity tasks and enhancing the overall value derived from existing investments.

Impressive Growth Metrics

The recent funding round arrives coincidentally with a period of accelerated growth for ReliaQuest. Since its previous funding round in 2020, the company has seen its Annual Recurring Revenue multiply more than fourfold, now exceeding $300 million, and boasts an impressive year-over-year growth rate of over 30%, all while maintaining profitability.

Brian Murphy, ReliaQuest's founder and CEO, emphasized that the company’s mission has consistently centered around solving critical challenges for its customers. He noted, "Enterprise security teams are inundated with data more than ever before, along with escalating threats. Chief Information Security Officers (CISOs) require solutions that enable threat containment within minutes, without incurring extra costs or technical complexities—leveraging the latest innovations in Agentic AI."

This funding marks a pivotal advancement not just in ReliaQuest's growth but also in the security outcomes that can be delivered to CISOs worldwide.

The Road Ahead

Kirk Lepke, a Partner at EQT Growth, further underscored the significance of Brian Murphy's leadership qualities and vision as pivotal to ReliaQuest's success and growth. He stated, "Brian's commitment to nurturing a mindset-driven organization serves as the foundation for ReliaQuest’s growth as a distinguished cybersecurity company. By integrating AI and automation capabilities into GreyMatter, ReliaQuest has distinguished itself as a leading software vendor, equipped to manage security operations for even the most complex enterprise environments."

EQT's strategic involvement in this funding round signals a long-term partnership aimed at accelerating ReliaQuest's mission and addressing the pressing needs within the cybersecurity sector. As cyber threats grow more sophisticated, the demand for such innovative solutions is set to rise, positioning ReliaQuest favorably within a rapidly evolving landscape.

In conclusion, the funding led by EQT not only enhances ReliaQuest's financial resources but also solidifies its standing as a pioneer in the cybersecurity domain, prepared to meet the challenges posed by the ever-evolving threat landscape.