ReliaQuest

ReliaQuest offers an Extended Detection and Response (XDR) platform called “GreyMatter,” which collects information from a company’s entire security stack and provides a unified view, enabling threat detection and automating responses using machine learning.

As of November 2021, ReliaQuest recorded over USD 100 million in annual recurring revenue (ARR), and more than doubled the number of customers year-over-year (YoY) to nearly 65%. The company expects a revenue growth of 40% for 2021, and over 50% in 2022. As of the same date, the company served more than 350 customers, including hundreds of Fortune 1000 organizations such as American Eagle Outfitters, Campbell Soup Company, and St. Jude Children’s Research Hospital. ReliaQuest also holds 52 patents for its GreyMatter platform. In November 2020, the company was ranked 409 in Deloitte’s “Technology Fast 500” list, which tracks the fastest-growing technology companies in North America.

In October 2019, ReliaQuest acquired proactive cyber defense specialist, Threatcare. ReliaQuest integrated Threatcare’s cyberattack simulation capabilities into its GreyMatter platform. ReliaQuest acquired the threat intelligence startup , Digital Shadows for USD 160 million in June 2022. Digital Shadows delivers actionable threat intelligence, which combines data analytics, application programming interface integrations, and automation features through its platform, SearchLight. The platform leverages a threat model that adapts to an organization’s risk profile and appetite in order to protect against digital risks such as cyberattacks, loss of intellectual property, and loss of brand reputation and integrity. ReliaQuest integrated its GreyMatter platform with XDR capabilities across cloud, network, and endpoint environments with Digital Shadows’ SearchLight platform with digital risk protection and external threat intelligence capabilities. This joint solution provides security operations teams with internal and external visibility that enables them to automatically detect and respond to threats in real time. ReliaQuest also absorbed 180 employees of Digital Shadows into its employee headcount of 800.

In December 2021, the company raised an undisclosed amount in a growth equity round led by KKR, which valued the company at more than USD 1 billion. The company expected to utilize the funds to accelerate its go-to-market efforts in North America and Europe; expand its international footprint across Central America, South America, and Asia-Pacific; innovate its cloud-native Open XDR platform with new AI and machine learning (ML) capabilities further; and double its team of 700 within the next 12–14 months, with 50 to 70 new hires every month.