Rubrik Raises $180 Million Series D, Total Funding at $292 Million

Rubrik, Inc. announced a $180 million series D investment led by IVP with strong participation from Lightspeed Venture Partners and Greylock Partners, bringing total equity raised to $292 million.  

With a run-rate approaching $100 million, and several hundred enterprise customers adopting its Cloud Data Management, Rubrik has established a record setting growth in six quarters of selling.  

The company will use the new funds to accelerate product development and go-to-market investments worldwide.

“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,” said Somesh Dash, general partner at IVP. “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.”

“With accelerating hybrid and multi-cloud IT adoption, enterprises are eager to embrace a cloud native data management platform to manage, recover, and secure data,” said Bipul Sinha, co-founder and CEO, Rubrik. “We see an unprecedented opportunity to double down on our pace of innovation and go-to-market worldwide. As the market leader and pioneer of cloud data management, Rubrik will aggressively invest in the success of our customers as their journey to cloud hastens.”

Rubrik is on track to become the fastest growing enterprise companies:

• Customer growth: In just six quarters of sales, the company has achieved a record run-rate approaching $100 million with dozens of Fortune 500 customers and customers across all verticals, including the financial services, retail, legal, government, and healthcare.
• Global expansion: In the past year, it has built sales, marketing and support teams across five continents.
• Hiring: Rubrik has more than 330 employees worldwide and is on track to add 70 to 90 additional hires each quarter.
• Innovation: Rubrik 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.

“The surging market interest in Rubrik’s Cloud Data Management is a great validation of the company’s approach – simplicity, speed and cloud native architecture,” said Ravi Mahtre, general partner, Lightspeed Venture Partners. “Rubrik is on the way to upend a large and unloved market grappling with cloud adoption.“

“Rubrik is redefining enterprise cloud data management,” said Asheem Chandna, partner, Greylock Partners. “Rubrik’s future-proof architecture combined with Apple-like simplicity, has resulted in rapid and accelerating worldwide customer adoption, and one of the fastest growing enterprise companies ever.”