Rubrik raises $261 million for new products

Rubrik raises $261 million for new products

Rubrik, a provider of cloud data management services, today announced that it has raised a total of $261 million (approximately €229 million) in a Series E investment round. The company is thus valued at 3.3 billion dollars.

Bain Capital Ventures was attracted to the Series E round as a new investor. In this round there is also a strong participation of existing investors Lightspeed Venture Partners, Greylock Partners, Khosla Ventures and IVP. This brings the total capital to more than $553 million.

General goals and innovation

According to co-founder and CEO Bipul Sinha, last year Rubrik mainly raised funds to pay for his global expansion, as well as to expand the company’s reach in the corporate market. This new capital will accelerate the introduction of new products in 2019, solve customer challenges and significantly increase our strategic footprint in the enterprise world, says Sinha.

The new investment is intended for general business purposes, future innovation and the launch of major new products planned for 2019. These new products will respond to the dramatic transition of companies to the public cloud and the explosive increase in data. IDC estimates total expenditure on data management at $48 billion. Rubrik will also expand the investment in go-to-market activities with the company’s partners, including Microsoft, Cisco, AWS and SAP.

Platform of Rubrik

Rubrik offers a single platform where its customers can manage and protect data in the cloud and on-premise. According to the company, this makes it relatively easy to speed up the transition to the cloud and make a backup of data. Rubrik has a total of 1,400 employees worldwide. They work at three locations in the United States, but also at various locations in Ireland, India, Japan and the Netherlands.

This news article was automatically translated from Dutch to give a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.