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Rubrik -  - Rubrik Raises $180 Million at $1.3 Billion – Why it Matters

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Rubrik Raises $180 Million at $1.3 Billion – Why it Matters

This past week, we announced that we raised $180 million at a $1.3 billion valuation. The round is led by IVP (same folks who invested in Slack, Snapchat, AppDynamics, MuleSoft) with strong participation from our existing investors Lightspeed Venture Partners and Greylock Partners. Why raise another round? We have not even dipped into the $61 million from Series C since we’ve been judiciously fueling our hyper-growth with cash flow. Simply put, Rubrik is growing extremely fast. We’ve grown our employees by more than 15x in the past two years. We’ve expanded to 5 continents in 5 quarters. We approached $100 million in bookings in just six quarters of selling. We’ve amassed a customer base numbering into several hundred enterprises, with huge penetration into the Fortune 500 and large governments. When several investors approached us to pre-empt the next round of funding, my co-founders and I saw the opportunity to double down on accelerating our business at a rate that the industry has not seen before. The market demand is there and we can further amplify our innovation lead by investing heavily in R&D. To date, we have rolled out 8 product releases with the latest managing data for cloud-native applications while…