Rubrik is a data backup solution that offers data protection, search, analytics, compliance and copy data management in one platform. The company serves enterprises taking a “hybrid cloud” approach.
Rubrik grew its global customer base by more than 4x over the past fiscal year. Customers represent global leaders in a diverse range of industries, including two of the top five biotech companies in the world, three of the top five media companies, two of the the top three real estate companies, and many more.
Rubrik competes in data management industry and faces a strong competition from a number of firms, including its closest rival Cohesity. This may negatively affect its long-term viability and valuation.
World's largest enterprises continue record pace of adoption of Rubrik's Cloud Data Management solutions; IDC estimates total spend in the overall data management market 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's total venture backing now over $553 million. Famous 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).
In February 2018 Rubrik disclosed that it was on track to reach an annual revenue run rate of $300 million thanks to rapid enterprise adoption of its products. In its last venture round in January 2019 Rubrik was valued at $3.3 Billion. Given rapid market expansion and support from major VC firms, the expected return on investment is more than 100%.