ReliaQuest

About ReliaQuest

Founded in 2007 in Tampa, ReliaQuest has established itself as a global cybersecurity leader, delivering a differentiated, AI-driven approach to security operations for large enterprises.

The company’s technology platform, GreyMatter, seamlessly integrates with over 200 different cybersecurity tools, allowing security teams to leverage their current or future technology stack to drive greater visibility and AI-driven automation. This enables security teams to detect, contain, investigate and respond to cyber threats across complex and heterogeneous technology environments.

To date (Apr-25), ReliaQuest serves 1,000+ global customers, surpassed $300m of annual recurring revenue (at entry), while delivering strong and profitable growth of >30%.

Market trends and drivers

Enterprises face exploding alert volumes, increasingly sophisticated attack vectors, chronic SOC talent shortages, and heightened regulatory scrutiny – driving a fundamental shift from legacy managed services to software-centric security operations platforms.

ReliaQuest’s AI-powered and technology-agnostic approach to this problem, positions GreyMatter as the ideal platform to capture this services-to-software transition. The broader TAM for managed security services is estimated to be $164bn, within which ReliaQuest’s core addressable market for SecOps software is growing at a 28% CAGR.

Investment potential

EQT Growth will partner with ReliaQuest to accelerate international expansion - especially in Europe and APAC - by leveraging EQT’s local partner networks, industrial advisors and true global reach. In addition, EQT Growth is supporting ReliaQuest with cross-sell into EQT’s extensive portfolio and with potential bolt-on acquisitions to drive product expansion.