ReliaQuest, an Extended Detection and Response (XDR) startup, has raised an undisclosed amount in a growth equity round led by KKR, and included participation from Ten Eleven Ventures, FTV Capital, and the company’s founder and CEO Brian Murphy. The round values the company at more than USD 1 billion. ReliaQuest’s total funding stands at USD 330 million.

The company will 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.

ReliaQuest recorded more than 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. The company counts more than 350 customers, and serves 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.

ReliaQuest has also revealed plans to shift nearly 400 local employees to its 120,000 sq.ft new headquarters in Water Street, US early next year. The company has also announced that it will open its eighth global 64,000 sq.ft office in Sandy, Utah in 2022, which will house more than 400 employees.