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SaaS Security Platform Provider ReliaQuest Raises $300 Million

Software-as-a-Service (SaaS) security platform provider ReliaQuest announced on Tuesday that it has raised more than $300 million in a growth funding round led by global investment company KKR.

Ten Eleven Ventures and Brian Murphy, ReliaQuest’s founder and CEO, also took part in the funding round. The company plans on using the money to improve its platform and for international expansion.

ReliaQuest has developed GreyMatter, a cloud-native SaaS platform that is designed to help enterprises gain more visibility into their on-premises and cloud environments by collecting and analyzing data from their existing cyber solutions. The platform uses AI and automation to provide continuous threat detection, threat hunting and remediation capabilities.

ReliaQuest previously raised $30 million from FTV Capital. The company says it has over 250 customers and claims its revenue has increased by more than 450 percent over the past three years.

"ReliaQuest's GreyMatter platform is supported by some of the top security talent in the industry, enabling enterprises to increase visibility across cloud and on-premises technologies, allowing them to reduce risk and compromises,” Murphy said. “The investment from KKR and Ten Eleven 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.”

Related: Adaptive Shield Emerges From Stealth to Secure SaaS Applications

Related: AppOmni Raises $10 Million to Help Companies Prevent Cloud Misconfigurations

Related: Panorays Raises $15 Million in Series A Funding Round

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.