Rubrik has raised up to USD 553 million in funds so far, including the Series E round.
Rubrik Inc., a data management company based in California, USA, has reportedly secured as much as US$ 261 million in Series E funding, the latest financing round of the company led by Bain Capital Ventures, a venture capital arm of the Boston-based private investment firm Bain Capital. Reportedly, the latest funding evaluates the company at US$ 3.3 billion.
As per reliable sources, Rubrik, which provides cloud-based data recovery and backup services, has raised up to USD 553 million in funds so far, including the Series E round. Other participants in the funding include the existing stakeholders - Khosla Ventures, Lightspeed Venture Partners, Greylock Partners, and IVP. Rubrik is most likely to utilize the funding proceeds for its upcoming innovations and for introducing new products, add sources.
Bipul Sinha, the CEO and co-Founder at Rubrik Inc., was reported saying that the new capital is expected to accelerate the introduction of novel products in the new year and will solve several customer challenges, while significantly expanding the strategic footprints in the enterprise.
As per a report by News Corp VC Circle, Rubrik, founded by Bipul Sinha, Arvind Nithrakashyap, and Soham mazumdar in 2014, has offices in India, Ireland, Tokyo, the Netherlands, and the United States. Its Indian operations in Bengaluru includes a major R&D presence, where independent products are developed for global markets. It was further reported that the company has a sales & marketing team working in India and will be contributing to triple its headcount in the country and augment the R&D initiatives by 2020.
Rubrik, for the record, had acquired Datos IO last February, which provides a cloud-based platform for data management and enables organizations to safeguard application data. The US-based start-up’s customers include Expedia Group Inc., ASL Airlines, Cisco Systems Inc., UC San Diego, US Department of Defense, and US Department of Commerce.