Rubrik, the Cloud Data
Management Company, today announced a $261 million Series E investment at a
$3.3 billion valuation with new investor Bain Capital Ventures, and with strong
participation from existing investors Lightspeed Venture Partners, Greylock
Partners, Khosla Ventures, and IVP. This brings total equity raised to 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.
Rubrik
2018 Highlights
- Expanded Leadership: Rubrik welcomed Microsoft Chairman John
W. Thompson and Chairman Emeritus and former CEO of Cisco John Chambers as a
board member and a board advisor, respectively. The company also expanded its
executive team with several high profile hires from leading technology
companies, including: Chief Financial Officer Murray Demo (Atlassian), CIO Avon
Puri (VMware), Chief Legal Officer Peter McGoff (Box), Chief People Officer
Jeff Vijungco (Adobe), SVP of Product & Strategy Shay Mowlem (Splunk), and
SVP of Finance & Strategy Kiran Choudary (Atlassian).
- Enterprises Worldwide Trust Rubrik: Customers 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.
- Relentless Product Innovation: Rubrik's rapid growth has been bolstered
by a number of new products and solutions, including the launch of Polaris, the
award-winning and first SaaS platform of record for enterprise data, and Rubrik
Andes 5.0, the most comprehensive release to date of the Company's core Cloud
Data Management solution. Rubrik also deepened its partnership with Microsoft
through the launch of Rubrik Accelerator for Microsoft Azure, an offering
purpose-built for Azure to provide enterprise data protection and application
mobility across data centers to Microsoft Azure cloud.
- Industry Recognition: Over the past year, Rubrik received
several prestigious awards celebrating the company's innovation, market
adoption, and culture. For the second year in a row, the company won the
VMworld Best of Show Award for both the U.S. and Europe, as well as its third
consecutive Gold Award, in Security, for its new SaaS-based Application,
Polaris Radar. In November 2018, Rubrik was recognized as a 2018 Gartner Peer
Insights Customers' Choice for Data Center Backup and Recovery Solutions. For
the second year in a row, Rubrik was named to the Forbes Cloud 100 and
recognized in the top 10 of LinkedIn's Top Startups list.
- Customer Success: Rubrik has one of the highest customer
satisfaction ratings in the industry with a NetPromoter Score of 82
(relationship score measured on product and support) and a 98.6% customer
satisfaction score for customer support. Additionally, 100% of Rubrik's support
team is certified by CEMPRO. Rubrik support also received back to back
Northface Scoreboard awards for excellence in customer service.
- Deepened Commitment to Partners: Since launch, Rubrik has sold its
solutions 100% through channel partners. This year, Rubrik deepened its
commitment to the channel through the introduction of the Rubrik Velocity
Channel Partner Program, which provides new and expanded opportunities for
partners to capitalize on Rubrik's momentum and massive market opportunity.
- Global Operations: Rubrik has over 1,400 employees
worldwide. Furthermore, Rubrik provides global 24x365
support with three locations in the US, plus locations in Ireland, the
Netherlands, India, and Tokyo.
"Rubrik has differentiated
itself as the industry pioneer and leader in the large and growing cloud data
management market at an unprecedented speed," said Ravi Mahtre, Partner at
Lightspeed Venture Partners. "We believe Rubrik will fundamentally change the
way enterprise IT operates over the next decade. That's why it is one of the
capstone investments in Lightspeed's global portfolio."
"In less than five years,
Rubrik has delivered on its vision to simplify how businesses around the world
keep and use their data, resulting in unprecedented growth," said Asheem
Chandna, Partner at Greylock Partners. "We're proud to continue to closely
partner with Rubrik on their journey ahead, towards continued rapid business
scaling and further extending their leadership position in cloud data
management."
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