PALO ALTO — Rubrik, a Cloud Data Management Company, has scored a $180 million Series D investment led by IVP with participation from Lightspeed Venture Partners and Greylock Partners, bringing total equity raised to date at $292 million.
With a run-rate approaching $100 million, and several hundred enterprise customers adopting Rubrik Cloud Data Management, Rubrik has established itself as the market leader with record setting growth in just six quarters of selling. Rubrik plans to use the new funds to dramatically accelerate product development and go-to-market investments worldwide.
“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. “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.”
“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.”
Rubrik has more than 330 employees worldwide and is on track to add 70 to 90 additional hires each quarter.
In the past year, Rubrik has built sales, marketing and support teams across five continents.