New funding brings Rubrik’s total financing to over $112 million
Converged data management company Rubrik said on Tuesday that they received a $61 million Series C investment led by Vinod Khosla’s venture capital firm Khosla Ventures with support from existing investors Lightspeed Venture Partners, Greylock Partners and some angel investors.
This new funding round, which brings Rubrik’s total financing to over $112 million since inception, provides a large war chest to continue rapidly scaling sales, marketing, support, and engineering to bring the benefits of cloud data management to every organization around the globe.
Though the company did not make any comment on its valuation, the investment data company PitchBook has estimated a valuation of $610 million for Rubrik.
“As data centers are re-imagined for cloud, there’s a universal need for a data management platform that can orchestrate data anywhere – across private and public clouds. Just as Sun Microsystems ushered an era of client-server computing, Rubrik pioneers a cloud data management architecture that will fundamentally transform how enterprises manage and access their application data,” said Vinod Khosla, founder of Khosla Ventures.
“Rubrik’s swift rise and unparalleled momentum demonstrate a massive market opportunity for such a cloud-enabled transformation,” he added.
The company also announced a Cloud Data Management platform, which it claims to be the first one in the world, designed to protect, manage and secure data everywhere for hybrid-cloud enterprises.
The company claims that its cloud management platform can manage data in the cloud and on premises at the same time. This is useful for the companies that keep some data in the cloud and other on premises. The cloud service is currently available only on AWS and Azure and Rubrik is planning to expand its presence to other platforms also.
“With organizations increasingly looking to leverage public cloud, Rubrik delivers the killer application to democratize public cloud for enterprises with an easy button to protect, manage, and secure data everywhere,” said Rubrik co-founder and CEO Bipul Sinha.
“Our Firefly release will further accelerate cloud adoption in enterprises, and cement cloud data management as an industry standard practice,” Sinha added.
Rubrik’s global network of partners comprises over 150 major resellers and distributors to meet cloud data management solution demand around the world. Enterprise customers across all verticals, including numerous Fortune 500 companies, have adopted Rubrik in record numbers to leverage cloud economics.
The company has received numerous industry acclaims including Gartner Cool Vendor, Virtualization Review Editor’s Choice, and CRN Emerging Vendor.
“We are elated by the overwhelming market demand for our innovative data management platform that marries operational simplicity with powerful policy automation and data orchestration engines at cloud scale,” said co-founder and Vice President of Engineering Arvind Jain.