Menu
Rubrik tops $3B valuation following latest funding round

Rubrik tops $3B valuation following latest funding round

Proceeds used for future innovations and launching new products

Team Rubrik

Team Rubrik

Credit: Rubrik

Data management start-up Rubrik has raised US$261 million in its latest funding round led by Bain Capital Ventures, valuing the company at US$3.3 billion.

Existing stakeholders - Lightspeed Venture Partners, Greylock Partners, Khosla Ventures and IVP - also participated in the Series E round of funding.

The Palo Alto-based company, which provides cloud-based data back-up and recovery services, has so far raised US$553 million, including the latest funding round.

Rubrik said it would use the proceeds for future innovations and for launching new products.

“Our previous fundraising in 2017 was focused on global expansion and increasing our reach into the enterprise market,” said Bipul Sinha, co-founder and CEO of 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.”

Last February, Rubrik acquired Datos IO, which provides cloud-based data management platform that enables organisations to protect application data.

“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 Enrique Salem, former CEO at Symantec and partner at Bain Capital Ventures.

“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.”

Founded in December 2014, Rubrik's customers include Cisco, Expedia Group, UC San Diego, ASL Airlines, U.S. Department of Commerce and U.S. Department of Defense.

Bain Capital Ventures, the venture capital arm of the Boston-based Bain Capital, invests in start-ups ranging from security and cloud infrastructure to logistics.

(Reporting by Sayanti Chakraborty in Bengaluru; Editing by James Emmanuel)


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Bain CapitalRubrikdata

Featured

Slideshows

Tech industry comes out in force as Lancom turns 30

Tech industry comes out in force as Lancom turns 30

A host of leading vendors and customers came together to celebrate the birthday of Lancom Technology in New Zealand, as the technology provider turned 30.

Tech industry comes out in force as Lancom turns 30
The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Show Comments