PALO ALTO — Cloud data management company Rubrik has raised a $261 million Series E investment, giving the company a $3.3 billion valuation. New investor Bain Capital Ventures participated along with existing investors Lightspeed Venture Partners, Greylock Partners, Khosla Ventures, and IVP. This brings total equity raised to date at more than $553 million.
“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,” said 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.”
“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 Bipul Sinha, Co-founder and CEO at 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.”
Rubrik will use the new funding for general corporate purposes, continued future innovation and to support the launch of major new products planned for 2019. These new products will further capitalize on the sweeping enterprise transition to public cloud and the explosion of data. IDC estimates the overall data management market spend at $48 billion. Rubrik will also expand investment in go-to-market activities with the Company’s partners including: Microsoft, Cisco, AWS, SAP, Nutanix, Oracle, VMware, Google Cloud, Pure Storage, and others.
In 2018, Rubrik welcomed Microsoft Chairman John Thompson and Chairman Emeritus and former CEO of Cisco John Chambers as a board member and a board advisor, respectively.
Rubrik has over 1,400 employees worldwide.
Customers using Rubrik include ASL Airlines, Bioverativ, CarePoint Health, CARFAX, CBRE, Cisco, Clouditalia, Digital River, Empire Life, Expedia, Frost Bank, France Télévisions Publicité, JE Dunn, Jones Lang LaSalle, NWS Holdings, Omnitracs, Sphero, Stora Enso, The Scottish Government, TiVo, Totaljobs, UC San Diego, U.S. Department of Commerce, U.S. Department of Defense, U.S. Department of Energy, Willis Towers Watson.