Today I’m honored to share that our GreyMatter platform has been recognized for the second year in a row by the 2020 CyberSecurity Breakthrough Awards. GreyMatter was awarded “SaaS Security Solution of the Year” — further validating the need for a unified SaaS security platform like ours that provides today’s CISOs with confidence in their security portfolio as the threat landscape continues to evolve. This award win comes on the heels of our recent landmark funding round, where we raised over $300 million in growth financing led by KKR, with participation from Ten Eleven Ventures.
We have seen tremendous customer validation for our GreyMatter platform, achieving 450% revenue growth over the past three years. Further, the hype around the emerging category of XDR claims to address many of the challenges the GreyMatter platform solves today. The difference is that GreyMatter allows customers to get value and visibility across tools they currently have deployed—regardless of vendor. We’re calling this approach Open XDR. ReliaQuest customers tell us time and time again that the overall confidence in their security program stems from GreyMatter’s ability to break through the noise and provide better visibility across their entire security stack. Today’s recognition as SaaS Security Solution of the Year validates the innovation and work we have been doing to provide our customers with an effective solution that improves the power and success of their own security model.
GreyMatter is the first cloud-native SaaS platform that consolidates, normalizes, and correlates data from customers’ existing cyber technologies. The platform helps unite security teams’ disparate environments into a single, centralized UI that drives comprehensive visibility and enables automated response to quickly and effectively address threats. GreyMatter leverages artificial intelligence and automation, which enable continuous threat detection, threat hunting, and remediation. Fortune 1000 customers like St. Jude Children’s Hospital, Campbell Soup, and the Boston Celtics have seen the following benefits:
- 4x increase in threat detection capabilities in the first 90 days
- 98% reduction in system downtime
- 35% reduction in technology costs due to greater efficiencies
- Eliminating up to 40% of duplicate alerts and addressing 66% of SIEM and 94% of EDR alerts before your team needs to take an action