Cloud Data Management Company Rubrik Raises $261 Million Raised At $3.3 Billion Valuation

By Dan Anderson ● Jan 19, 2019

Rubrik, a Palo Alto, California-based cloud data management company, announced it has raised $261 million in Series E funding at a $3.3 billion valuation. New investor Bain Capital Ventures invested in this round along with participation from existing investors Lightspeed Venture Partners, Greylock Partners, Khosla Ventures, and IVP. Rubrik has now raised a total of $553 million.

“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 Rubrik co-founder and CEO Bipul Sinha in a statement. “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.”

Rubrik will be using the new round of funding for general corporate purposes, future innovation, and for supporting the launch of new products this year. And Rubrik is going to expand investment in go-to-market activities with partners like Microsoft, Cisco, AWS, SAP, Nutanix, Oracle, VMware, Google Cloud, Pure Storage, and several others.

“Rubrik has won the trust and loyalty of large enterprise customers around the globe by offering a simple and reliable solution that solves the challenge of protecting and managing data in a hybrid cloud world,” added Bain Capital Ventures partner Enrique Salem — who is also former CEO of Symantec. “When we met Bipul, we were instantly impressed with his vision as well as the skill and tenacity of his team. Given my experience leading the largest enterprise data protection company, we are confident that Rubrik is positioned to win and be the market leader in enterprise cloud data management.”

Rubrik also made a number of high profile hires this past year. For example, Rubrik brought in Microsoft Chairman John W. Thompson as a board member. And former Cisco CEO John Chamber was hired as a board advisor. And the company also hired Murray Demo (CFO), Avon Puri (CIO), Peter McGoff (Chief Legal Officer), Jeff Vijungco (Chief People Officer), Shay Mowlem (SVP of Product & Strategy), and Kiran Choudary (SVP of Finance & Strategy).

Currently, Rubrik has more than 1,400 employees worldwide. And the company has global operations across three US locations along with offices in Ireland, the Netherlands, India, and Tokyo. And the company offers global support 24×365 across these locations.

Lightspeed Venture Partners partner Ravi Mahtre said Rubrik differentiated itself as the industry pioneer and leader “in the large and growing cloud data management market at an unprecedented speed.” And Greylock Partners partner Asheem Chandna said that the venture firm is proud to continue closely working with Rubrik towards continued rapid business scaling and further extend their “leadership position in cloud data management.”