Cybersecurity firm achieves 'unicorn' status, expands to Utah

TAMPA — The pre-money valuation of ReliaQuest, a Tampa-based company that provides cybersecurity services for hundreds of Fortune 1000 firms, has surpassed $1 billion, making it the industry's latest "unicorn," thanks to a funding round led by KKR, with additional investment from Ten Eleven Ventures, FTV Capital and ReliaQuest founder and CEO Brian Murphy.

The capital injection follows a $300 million growth equity round in 2020 that included KKR, Ten Eleven Ventures and Murphy. In 2021, the firm surpassed $100 million in annual recurring revenue, according to a news release, and more than doubled its number of new clients, year-over-year.