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Cybersecurity firm, riding high on 450% growth, lands $300M investment

Tampa-based ReliaQuest receives funding from multiple sources, including founder and CEO.

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  • | 9:59 a.m. August 25, 2020
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Courtesy. Brian Murphy is the founder and CEO of ReliaQuest, a Tampa-based cybersecurity firm.
Courtesy. Brian Murphy is the founder and CEO of ReliaQuest, a Tampa-based cybersecurity firm.
  • Tampa Bay-Lakeland
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TAMPA — Cybersecurity firm ReliaQuest has raised a total of $300 million in growth financing from global investment firm KKR, Ten Eleven Ventures and Brian Murphy, the firm’s founder and CEO. 

According to a press release, the funds will support ReliaQuest’s international expansion, platform development and other growth initiatives. Over the past three years, the firm’s revenue has grown at a 450% rate as more clients around the world have adopted its GreyMatter software-as-a-service platform, a service that uses artificial intelligence and automation to bolster data security. 

“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 states in the release. “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.”

In 2016, the release states, ReliaQuest received a $30 million investment from FTV Capital. The company’s clientele now includes Abercrombie & Fitch, the Boston Celtics, AAA The Auto Club Group, Southwest Airlines and TSC Tractor Supply Co.

“With its best-in-class technology, ReliaQuest is helping companies protect their digital footprint, which is more important than ever,” KKR Director Stephen Shanley states in the release. “As a ReliaQuest customer ourselves, we’ve experienced firsthand how seamless and effective their platform is, and are thrilled to have the opportunity to invest behind it.” 

Sidley Austin LLP represented KKR in the investment into ReliaQuest.


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