Rubrik bags $261m Series E, values company at $3.3bn
Cloud data management company Rubrik has bagged $261m in its Series E round of funding, which values the company at $3.3bn.
Bain Capital Ventures used the round to make its first investment into Rubrik, while Lightspeed Venture Partners, Greylock Partners, Khosla Ventures, and IVP all returned as backers of the company. This latest funding brings Rubrik’s total equity raised to over $553m – its former round closed on $180m in 2017.
Rubrik is a software platform designed to help companies protect and manage their data in the cloud environment. Clients can backup and recover their information in a solution which has end-to-end security, API-driven automation and analytic tools.
Enterprises can implement Rubrik to meet their GDPR compliance requirements, with the solution protecting, managing and monitoring data in all environments. The platform also protects a business from ransomware by enabling them to encrypt the backups and recover these files if needed.
Last year, the company released a number of new products including the Polaris, a SaaS platform to record enterprise data.
With the new line of capital, Rubrik is looking to further innovation and support the launch of new products this year. New solutions released this year will look to benefit from the transition to public cloud and the growing use of data.
Alongside this, the company is hoping to increase its go-to-market activities with partners, which include Microsoft, Cisco, Google Cloud, Nutanix, and Oracle, among others.
Rubrik Co-founder and CEO Bipul Sinha said, “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.
“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.”
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