ReliaQuest, an AI-powered cybersecurity firm based in Florida, has raised over US$500 million in its latest funding round.

The investment, which values the company at US$3.4 billion, was led by EQT, KKR, and FTV Capital, with participation from existing investors Ten Eleven Ventures and Finback Investment Partners.

The company plans to use the funds to improve its AI-driven platform, GreyMatter, and to support its global expansion.

GreyMatter integrates with over 200 cybersecurity tools to improve enterprises’ ability to detect, investigate, and respond to threats.

Since its last funding round in 2020, ReliaQuest’s annual recurring revenue now exceeds US$300 million, with a year-over-year growth rate surpassing 30%.

Goldman Sachs served as the exclusive financial advisor for this transaction, while Gibson Dunn provided legal counsel to ReliaQuest and KKR.