(Bloomberg) -- ReliaQuest, a cybersecurity platform for businesses, has raised more than $300 million in a funding round led by KKR & Co.
Ten Eleven Ventures and ReliaQuest’s founder and Chief Executive Officer Brian Murphy also participated in the fundraising, according to a statement. The valuation of the company wasn’t disclosed.
ReliaQuest’s software platform, called GreyMatter, helps security teams pull together and analyze data from a company’s existing technology services, to monitor and address potential threats in one place.
The work-from-home policies that many businesses put in place when the coronavirus pandemic hit in March have accelerated the move toward cloud-based technology, which can expose companies to new or increased cyber hazards.
Tampa, Florida-based ReliaQuest expects revenue to grow by more than 30% this year, after seeing 450% growth over the past three years, Murphy said in an interview. The money raised will be used to fund further growth and expansion, he said. Founded in 2007, the company has offices in Las Vegas, Salt Lake City, Ireland and the U.K., according to its website.
KKR, a customer of ReliaQuest, invested through its growth equity investment fund -- Next Generation Technology Growth Fund II -- which raised $2.2 billion in January.
“Cybersecurity is a very important space for KKR, both internally within KKR and our portfolio companies and from an investment vertical,” said Stephen Shanley, a director at KKR. “We see ReliaQuest as a disruptive company in the cyber space, solving a number of significant pain points that we’re seeing our own companies facing every day.”
Advisers on the agreement include Royal Bank of Canada’s RBC Capital Markets and the law firms Sidley Austin LLP, Kirkland & Ellis LLP and Latham & Watkins LLP.
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