Cloud data management solution provider, Rubrik, recently announced a $261 million Series E investment at a $3.3 billion valuation with investor Bain Capital Ventures and additional support from existing investors Greylock Partners, Lightspeed Venture Partners, Khosla Ventures, and IVP. This funding brings the total equity raised to over $553 million.
In a press statement, co-founder and CEO of Rubrik, Bipul Sinha said, “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. 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.”
Enrique Salem, former CEO of Symantec and Partner at Bain Capital Ventures, added, “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. 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.”
Rubrik will use this investment for continued future innovation, general corporate purposes, and to support the release of new major products scheduled for 2019. The new products will continue to capitalize on the large-scale enterprise switch to the public cloud, as well as the exponential growth of data. Rubrik will also further investment in go-to-market activities with its partners, including Cisco, Microsoft, SAP, AWS, Oracles, Nutanix, Google Cloud, Pure Storage, and VMware.
To read Rubrik’s full press release, click here.