Rubrik announced its latest series d funding at $1.3 billion valuations to further accelerate global adoption of cloud data management
Rubrik, the enterprise cloud data management company, has announced that it scooped $180 million Series D funding from 3 investors, led by Institutional Venture Partners (IVP). The company has so far managed to raise $292 million in four rounds of funding since its inception in January 2014.
“With accelerating hybrid and multi-cloud IT adoption, enterprises are eager to embrace a cloud-native data management platform to manage, recover and secure data,” said Bipul Sinha, Co-founder and CEO at Rubrik. “We see an unprecedented opportunity to double down on our pace of innovation and go-to-market worldwide. As the market leader and pioneer of cloud data management, Rubrik will aggressively invest in the success of our customers as their journey to cloud hastens.”
With a run-rate approaching $100M, and several hundred enterprise customers adopting Rubrik Cloud Data Management, the data backup startup has established itself as the market leader with record-setting growth in just six quarters of selling. Rubrik will use the new funds to dramatically accelerate product development and go-to-market investments worldwide. By virtue of its latest funding round, Rubrik has renewed its commitment towards providing enterprise data management solutions within the cloud-native ecosystem.
“The paradigm shift to the cloud has taken hold in the Enterprise and no other company is better suited to catalyze this market opportunity than Rubrik,” said Somesh Dash, General Partner at IVP.
Dash adds, “Similar to other hyper-growth IVP investments like AppDynamics, MuleSoft, Pure Storage, and Slack, Rubrik is a market leader with a long-term business model that is disrupting the broader IT industry while acquiring a loyal and enthusiastic enterprise customer base along the way.”
“The surging market interest in Rubrik’s Cloud Data Management is a great validation of the company’s approach – simplicity, speed and cloud-native architecture,” said Ravi Mahtre, General Partner at Lightspeed Venture Partners. “Rubrik is on the way to upend a large and unloved market grappling with cloud adoption.”
“Rubrik is redefining enterprise cloud data management,” said Asheem Chandna, Partner at Greylock Partners. “Rubrik’s future-proof architecture combined with Apple-like simplicity has resulted in rapid and accelerating worldwide customer adoption, and one of the fastest growing enterprise companies ever.”
The Gartner Cool Vendor in Storage Technology is on track to become the fastest growing enterprise infrastructure company ever –
In just six quarters of sales, the company has achieved a record run-rate approaching $100M with dozens of Fortune 500 customers and customers across all verticals, including the financial services, retail, legal, government, and healthcare.
In the past year, the cloud-based data management company has built sales, marketing and support teams across five continents.
Hiring top talent
The data backup startup has more than 330 employees worldwide and is on track to add 70 to 90 additional hires each quarter.
The Palo Alto-based company has launched eight major product releases, supporting 15 different applications across multiple cloud platforms. Most recently, the company announced Rubrik for AWS and Azure cloud-native applications and data orchestration across clouds.
Raising $180 Million within a year of Series C!
In August 2016, the cloud-native data management company acquired $61 million in Series C. IVP, has invested in Slack, Snapchat, MuleSoft, and AppDynamics, previously. As a startup data management company, the data backup startup is focussed at doubling their business growth, investing heavily in R&D, and rolling out eight product releases with the latest data management solutions for Cloud-Native applications.
With a hyper-growth approach, Rubrik is well-placed in amassing great customer base with huge penetration into established martech market across 5 continents.