Rubrik, a start-up based in Palo Alto, California, closed $261 million in new venture funding for its Cloud Data Management platform, which delivers data protection, search and analytics, archiving and compliance, and copy data management capabilities for hybrid cloud enterprises. This gives the company total venture backing of over $553 million and a valuation of $3.3 billion. The new funding came from new investor Bain Capital Ventures, and with strong participation from existing investors Lightspeed Venture Partners, Greylock Partners, Khosla Ventures, and IVP.
Rubrik’s value proposition is to deliver data management functions in a single software fabric spanning with
- Instant Access – Rubrik delivers instant application recovery and predictive global search by unifying data locked within disparate application silos into one globally indexed namespace while leveraging zero-data cloning technology to enable on-demand copy data workflows.
- Automated Orchestration – Rubrik nearly eliminates daily operational management by enabling a single policy engine to orchestrate service level agreements across the entire data lifecycle. The Rubrik programmatic interface automates how data services are created, consumed, and retired across clouds.
- Security and Compliance – Rubrik secures data whether in-flight or at-rest throughout its lifecycle, regardless of location. The Rubrik platform delivers granular user provisioning and data permissions across all cloud data management workflows while providing automated compliance reporting to successfully complete various industry and internal audits.
“Our previous fundraising in 2017 was focused on global expansion and increasing our reach into the enterprise market. Now, with thousands of customers around the world, industry-leading customer satisfaction ratings, and numerous analyst and industry awards, we have customers asking us to solve new challenges,” said Bipul Sinha, Co-founder and CEO at Rubrik. “This new capital will speed the introduction of exciting new products in 2019 that will solve those customer challenges and significantly expand our strategic footprint in the enterprise.”
- In 2018, Rubrik welcomed Microsoft Chairman John W. Thompson and Chairman Emeritus and former CEO of Cisco John Chambers as a board member and a board advisor, respectively. The company also expanded its executive team with several high profile hires from leading technology companies, including: Chief Financial Officer Murray Demo (Atlassian), CIO Avon Puri (VMware), Chief Legal Officer Peter McGoff (Box), Chief People Officer Jeff Vijungco (Adobe), SVP of Product & Strategy Shay Mowlem (Splunk), and SVP of Finance & Strategy Kiran Choudary (Atlassian).