Rubrik raises $180m to power cloud data management growth
Rubik claims cloud storage customers "across all verticals, including the financial services, retail, legal, government, and healthcare".
Cloud backup company Rubrik has raised an $180 million series D investment round, which it plans to use to fuel product development and international expansion.
The cloud data management company has now raised a total of $292 million. The round was led by IVP with what the company described as "strong participation" from existing investors Lightspeed Venture Partners and Greylock Partners. It values the company at $1.3bn.
In a statement, the company said it will use the new funds, "to dramatically accelerate product development and go-to-market investments worldwide" and said it has "several hundred enterprise customers".
According to the company, the growth in sales and run rate has come from sales to "dozens of Fortune 500 customers ... across all verticals, including the financial services, retail, legal, government, and healthcare".
The company said it now has more than 330 employees worldwide and is on track to add 70 to 90 additional hires each quarter.
"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 at Rubrik. "We see an unprecedented opportunity to double down on our pace of innovation and go-to-market worldwide."
Gartner rated the company as one of its 'Cool Vendors in Storage Technologies' in 2016, along with other storage vendors such as Hedvig, Kaminario, and Datrium.