The company is already in Dizraptor’s portfolio since Jul 10. New offerings are possible in the future
About the Company
Rubrik is a single software platform that delivers backup, instant recovery, archival, search, analytics, compliance, and copy data management. It targets the B2B market with its data management systems for hybrid clouds.
As of November 2021, the company has more than 1,800 employees in 18 countries supporting its more than 3,300 customers including the global leaders across multiple industries, such as Adobe, Allstate, Cisco, Expedia, Mazda and others.
Rubrik was named in the 2022 Forbes Cloud 100, the annual ranking of the world's top private cloud companies, alongside other respected companies such as Stripe, Databricks, and Canva, for the sixth time. Rubrik was named the winner of the Coveted Global InfoSec Awards as a Hot Company in Data Security at RSA Conference 2022.
Also, for the third year in a row, the company was recognized as a leader in the 2022 Gartner Magic Quadrant for Data Center Backup and Recovery Solutions.
The global enterprise data management market size is expected to reach $265.68B by 2030, registering a CAGR of 14%. Being one of the current market leaders, Rubrik will 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.
In August 2021 Microsoft invested in Rubrik and now two companies will jointly sell software based on Microsoft’s Azure cloud to prevent, find and recover from ransomware attacks. The products also make sure backup copies of customer data aren't compromised by the hackers. The companies currently share 2,000 customers.
Financials and Valuation
Rubrik claimed it achieved a $600M annualized gross run rate for the fiscal 2020-year ended January 31. The company’s ARR in 2017 approached $100M and the fiscal 2018 amount was around $300M. About half of the fiscal 2020 bookings came from customers who spent $1M or more on Rubrik products and services to date. Subscriptions accounted for nearly half of bookings by the end of the year.
Rubrik had $261M Series E investment at a $3.3B valuation in January 2019 and then in August 2021 the company also received an undisclosed amount of investments from Microsoft. The funding totalled in the low tens of millions and valued Rubrik at about $4B.
As of November 2021 Rubrik's total venture backing is over $559M. It’s most recognised investors include Bain Capital Ventures (invested in Dynatrace, LinkedIn), Greylock Partners (invested in Facebook, Instagram, Okta), and IVP (invested in Twitter, Uber, CrowdStrike, Netflix, Zendesk).
Rubrik faces strong competition in the data management industry from a number of firms, including its closest rival Cohesity. This may negatively affect its long-term viability and valuation.
The Forbes Cloud 100 2022, Forbes, Aug 2022
Rubrik Named a Winner of the Global InfoSec Awards, Rubrik website, Jun 2022
Magic Quadrant for Enterprise Backup and Recovery Software Solutions, Gartner, Jul 2022
Global Enterprise Data Management Market Report 2022-2030, Research And Markets, Apr 2022
“Microsoft Invests in Rubrik, Partners to Protect Customers from Ransomware”, Yahoo Finance, Aug 2021
“Rubrik claims $600m revenue run-rate”, Blocks & Files, Feb 2020
“Data management startup Rubrik gets $261M at a $3.3B valuation as it moves into security and compliance”, TechCrunch, Jan 2019
“Microsoft invests in Rubrik at reported $4B valuation to expand partnership”, SiliconANGLE, Aug 2021