ReliaQuest

ReliaQuest
IndustryCybersecurity
Founded2007[1]
FoundersBrian Murphy[1]
HeadquartersTampa, Florida, USA
Number of employees
800+[1]
Websitewww.reliaquest.com

ReliaQuest, LLC is an American cybersecurity technology company headquartered in Tampa, Florida, with offices in Salt Lake City, Las Vegas, London, Dublin and Pune, India. The company provides threat detection, investigation and response through its GreyMatter security platform, which employs artificial intelligence to automate many of those cybersecurity tasks.[2] Its platform is used by organizations across various industries including banking, airlines, healthcare and professional sports, with customers like National Basketball Association team Boston Celtics.[3][4]

As of 2022, they are the title sponsor of the ReliaQuest Bowl in the National Collegiate Athletic Association.

History

ReliaQuest was founded in 2007 by CEO Brian Murphy[1] in Tampa, Florida.[5] Murphy attended Florida State University from 1996 to 2000, graduating with a degrees in Accounting and Finance.[6] He began his career as an auditor before transitioning into technology consulting, programming and IT services. ReliaQuest was established shortly before the onset of the 2008 financial crisis, which impacted early operations. Murphy continued to invest in the company, reportedly taking out a second mortgage, suspending his own salary, and bootstrapping the company for its first nine years.[7][8]

In June 2016, the company received its first outside capital investment of $30 million from FTV Capital.[9] In 2020, ReliaQuest raised $300 million in funding,[10] and in 2021 ReliaQuest's valuation grew to more than $1 billion.[5] In 2022, ReliaQuest acquired Digital Shadows for $160 million[1] and EclecticIQ in 2023 for an undisclosed amount.[11]

The company implemented a mental performance program for its employees, including hiring sports psychologists. In March 2023, the Washington Post reported that ReliaQuest maintained a retention rate of 85 percent or higher and saw improvements in employee engagement due to the program.[12][13]

As of April 2025, the company’s annual recurring revenue totaled more than $300 million, according to company sources, and employed 1,200 employees.[14][15] That month, the company was valued at $3.4 billion following a fundraising round reported to have raised $500 million. The round was led by EQT, KKR, FTV Capital, with participation from investors such as Ten Eleven Ventures and Finback Investment Partners. The company planned to use the fundraising to support international expansion and agentic AI-powered cybersecurity automation.[16][17][18]

As of June 2025, it remains headquartered in Tampa[19] and has offices in Salt Lake City, Las Vegas, London, Dublin and Pune.[20][21]

Technology

The company created the technology-agnostic[22] cyber security platform GreyMatter,[3] which was built on an open XDR architecture and which uses agentic AI for threat detection, containment, investigation and response.[19] The company holds 52 patents for technology, including one for a universal translator that provides "comprehensive threat detection" response across security technologies.[5] GreyMatter integrates with cybersecurity and enterprise tools.[2] The platform automates key aspects of security operations, normalizing data across security technologies for rapid threat detection, containment, investigation and response.[23] ReliaQuest claims its platform can analyze and respond to alerts in under five minutes, an improvement compared to traditional processes which often require manual intervention and cause latency in alerts and response time.[24][2][25] According to a report by TechSpective, the GreyMatter AI agent can process security alerts 20 times faster and with 30% greater accuracy than traditional methods.[23]

The software is used by enterprise companies in the banking industry, airline industry, healthcare industry, and organizations[26] such as the Boston Celtics.[27]

Partnerships & sponsorships

The company is the title sponsor of the ReliaQuest Bowl in the NCAA.[28] According to Fortune magazine, Founder and CEO Brian Murphy said his decision to become the sponsor was to raise awareness of the importance of cybersecurity and of the opportunities within cybersecurity careers.[29] As of 2024, ReliaQuest remains the title sponsor, with the 2024 ReliaQuest Bowl being the first edition since its inaugural edition scheduled in the month of December, and the first edition scheduled for New Year's Eve.[30]

They also sponsor coding classes at the elementary school and university levels in the Florida education system;[31] which included coding boot camps focused on cybersecurity training.[32]

The company is the official cybersecurity partner of the Tampa Bay Lightning, the Tampa Bay Buccaneers, and the Boston Celtics.[33][34][27]

As of 2025, ReliaQuest is an official cybersecurity sponsor of the PGA Tour and PGA Tour Champions.[35]

References

  1. ^ a b c d e Rundle, James (June 1, 2022). "ReliaQuest to Buy Digital Shadows for $160 Million". Wall Street Journal – via www.wsj.com.
  2. ^ a b c Loten, Angus (2025-03-31). "Exclusive | AI-Powered Cybersecurity Firm ReliaQuest Raises More Than $500 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-06-27.
  3. ^ a b Fechter, Michael (2023-09-22). "A Tampa cybersecurity startup surged to become a global company". Tampa Bay Times. Retrieved 2025-06-27.
  4. ^ Gordon, Mark (2023-07-04). "World Series-winning mental performance coach is Tampa tech giant's secret weapon". Business Observer. Retrieved 2025-06-27.
  5. ^ a b c "ReliaQuest, maker of open XDR platform, reaches $1B valuation with new funding". December 1, 2021.
  6. ^ "Who is the CEO of ReliaQuest?". www.clay.com. Retrieved 2025-07-09.
  7. ^ Fore, Preston (2025-06-01). "This CEO went from bagging groceries at Publix to founding a $3.4 billion cyber company—after skipping the Ivy League and teaching himself to code". Fortune. Retrieved 2025-07-09.
  8. ^ Elder, Jeff (2020-08-25). "Tampa cybersecurity startup ReliaQuest raises $300 million by simplifying cybersecurity, even as the CEO says that it doesn't believe in the idea of 'company culture'". Business Insider. Retrieved 2025-07-09.
  9. ^ Cooper, Laura (2016-06-07). "FTV Capital Commits $30 Million to ReliaQuest". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-07-09.
  10. ^ "Tampa cybersecurity company ReliaQuest hits $1 billion 'unicorn' status". Tampa Bay Times.
  11. ^ Singh, Vishal (19 May 2023). "Amsterdam's EclecticIQ sells its agent software and engineering assets to US-based ReliaQuest". Silicon Canals. Retrieved 15 January 2024.
  12. ^ Telford, Taylor (2023-03-11). "One answer to productivity woes? Mental performance coaches". The Washington Post. ISSN 0190-8286. Retrieved 2025-07-09.
  13. ^ Bradley, Tony (2024-10-04). "The ReliaQuest Mindset: A Competitive Edge in Cybersecurity". TechSpective. Retrieved 2025-07-09.
  14. ^ "ReliaQuest raises more than $500 million in funding at a valuation of $3.4 billion". SDX Central. 2025-04-04. Retrieved 2025-07-09.
  15. ^ Brezina, Veronica (2023-06-13). "Inside ReliaQuest's new HQ in Water Street". St Pete Catalyst. Retrieved 2025-07-09.
  16. ^ Loten, Angus (2025-03-31). "AI-Powered Cybersecurity Firm ReliaQuest Raises More Than $500 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-07-09.
  17. ^ Lyon, Laura (2025-04-01). "Tampa cybersecurity firm reaches $3.4B valuation milestone". Business Observer FL. Retrieved 2025-07-09.
  18. ^ "AI-powered cybersecurity firm ReliaQuest valued at $3.4 billion in latest funding round". Reuters. 2025-03-31. Retrieved 2025-07-09.
  19. ^ a b "Water Street Tampa expands ReliaQuest HQ, adds Sparkman Wharf tenants". Tampa Bay Times.
  20. ^ T. Grandon Gill. Cybersecurity Discussion Cases. Informing Science. p. 180. ISBN 9781681100371.
  21. ^ "ReliaQuest moving nearly 600 jobs — up to 200 of them new — to new Water Street corporate HQ". Business Observer. August 24, 2021.
  22. ^ Bradley, Tony. "Navigating The Evolving Landscape Of Cybersecurity". Forbes. Retrieved 2024-06-20.
  23. ^ a b Bradley, Tony (2025-02-10). "ReliaQuest's AI Agent Delivers Unprecedented Speed and Accuracy". TechSpective. Retrieved 2025-07-01.
  24. ^ Staley, Oliver (2025-02-26). "Cybersecurity Budgets Should Reflect Business Risks, Corporate Leaders Say". Wall Street Journal. ISSN 0099-9660. Retrieved 2025-07-01.
  25. ^ Jennings-Trace, Ellen (Feb 26, 2025). "AI is helping hackers get access to systems quicker than ever before". MSN. Retrieved 2025-07-01.
  26. ^ "Level Up". Florida Trend.
  27. ^ a b "For highly driven cybersecurity CEO, mindset is everything". Business Observer. May 15, 2020.
  28. ^ "ReliaQuest 'very happy' with Tampa bowl sponsorship's marketing impact". Tampa Bay Times.
  29. ^ "Move over Pop-Tarts and Duke's Mayonnaise, ReliaQuest's college football bowl game wants you to know the importance of cybersecurity". Fortune Education. Retrieved 2024-06-20.
  30. ^ Brown, Jo-Lynn (2024-12-08). "ReliaQuest Bowl announces teams for 2024". Tampa Bay Business & Wealth. Retrieved 2025-07-09.
  31. ^ Coffey, Lauren (25 October 2021). "ReliaQuest completes its education puzzle with high school cybersecurity program". Tampa Bay Business Journal. bizjournals.com.
  32. ^ Adib Farhadi, Anthony Masys, Ronald P. Sanders (15 September 2022). The Great Power Competition Volume 3 - Cyberspace: The Fifth Domain · Volume 3. Springer. p. 308. ISBN 9783031045868.{{cite book}}: CS1 maint: multiple names: authors list (link)
  33. ^ "Lightning to host 24th annual Bolt Run presented by AdventHealth | Tampa Bay Lightning". NHL News. 2024-10-29. Retrieved 2025-07-09.
  34. ^ "Bucs name ReliaQuest as cybersecurity partner". St Pete Catalyst. 2020-09-03. Retrieved 2025-07-09.
  35. ^ Glendinning, Matthew (2025-03-19). "ReliaQuest signs non-exclusive PGA Tour deal". Sport Business. Retrieved 2025-07-09.


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