Cloud Data Management solution provider Rubrik recently announced that they’ve secured $180 million in Series D investment funding. The round was led by IVP with participation from Lightspeed Venture Partners and Greylock Partners. With the injection, the company has raised more than $290 million since its founding in 2014. This news comes on the heels of their last venture funding round in August of 2016. The vendor plans to use the capital to hasten product development and global market investments.
Rubrik touts a $100 million-dollar run-rate and some big-name customers, including many in the Fortune 500. The 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. Additionally, they’ve hired more than 330 new employees and expanded to five continents in the last year.
In a statement, IVP’s general Partner Somesh Dash adds: “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. 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.”