Our Investment in ReliaQuest
Cybersecurity remains a vexing challenge for most enterprises. Several factors complicate the mission of internal cybersecurity teams: a growing attack surface, a large number of security tools to manage, and a shortage of cybersecurity talent. In-house security teams know they need to control the risks better, but they are often understaffed and without the required capabilities or systems to adequately defend against adversaries. Increasingly, enterprises must spend more of their security budget on external resources.
ReliaQuest is a company that has found great success helping these overburdened companies by providing advanced cybersecurity services paired with an innovative, cloud-native intelligence platform, GreyMatter. Because of this compelling technology, they have efficiently and effectively scaled a “white-glove” approach to security that drives real value to customers. The GreyMatter platform gives unmatched visibility across all security intelligence sources and detection and response tools. ReliaQuest’s best-in-class cyber talent and flexible, “co-managed” approach ensures that the technology is mapped to each customer’s needs and working at maximum capacity.
With a 97% retention rate, the Company has succeeded in its mission to build a long-lasting, collaborative partnership with each client. From our earliest diligence calls, we were impressed with the enthusiasm that customers held for ReliaQuest’s approach. Commonly cited were ReliaQuest’s transparent technology and differentiated, collaborative service. The ROI to these customers is clear – they would have to invest a lot more to achieve the outcomes that ReliaQuest can deliver for a lot less.
The “jockey” is always an essential part of our investment decision. Notably, we are thrilled that ReliaQuest has CEO and founder Brian Murphy at its helm. Brian is an exceptional leader and strategic thinker. We value his ability to identify and infuse talent into every level of the Company. The team’s technology and product capabilities are robust and have proven critical to their ability to create such a visionary intelligence platform.
The final key element of this investment was working through diligence and structure with our Joint Investment Alliance partner, KKR. Building on our track record of successful collaboration, we continue to work with this talented team on additional opportunities.
We’re committed to the success of the Company and excited to partner with them in their next stage of growth. With the help of ReliaQuest, its GreyMatter platform, and its talented leadership team, many more global enterprises will be able to access more effective, efficient cybersecurity.