Rubrik, Inc.: history, ownership, mission, how it works & makes money

A Brief History of Rubrik, Inc.

Founded in 2014 by Bipul Sinha, Arvind Jain, and others, Rubrik, Inc. has rapidly emerged as a leader in cloud data management and data protection. The company, headquartered in Palo Alto, California, initially gained attention with its innovative platform that simplifies data backup, recovery, and management across hybrid and multi-cloud environments.

Rubrik's first significant funding round came in April 2015 when it secured $41 million in a Series A investment led by Greylock Partners. This influx of capital allowed Rubrik to accelerate its product development and expand its market reach.

In March 2016, Rubrik raised a Series B round of $61 million, valuing the company at approximately $1 billion. This funding was fundamental in establishing Rubrik's brand and reputation in the increasingly competitive cloud data management market.

The company continued to attract significant investments, raising a Series C round in 2017 of $112 million, led by IVP and other investors, pushing its valuation to $1.1 billion. This rapid growth was fueled by the growing demand for effective data management solutions, particularly among enterprises migrating to the cloud.

In 2018, Rubrik achieved notable milestones, including the acquisition of the cloud data management startup, Datos IO, for an undisclosed amount. This acquisition was strategically important, enhancing Rubrik's capabilities in managing multi-cloud environments and applications.

As of 2021, Rubrik reported revenues of approximately $250 million, marking a significant increase from previous years. The company has expanded its workforce to over 1,400 employees and has established a customer base that includes more than 2,000 customers globally, encompassing sectors such as healthcare, finance, and education.

Below is a summary of Rubrik's financial milestones through the years:

In 2022, Rubrik announced plans to expand its product suite, including enhancements in security features and greater integration with cloud providers. The company also emphasized its commitment to maintaining a strong presence in the data management sector amid growing competition from firms such as Veeam and Cohesity.

Rubrik's platform has been recognized for its performance and reliability, securing numerous awards and accolades within the tech industry. The company's ongoing innovations in artificial intelligence and machine learning for data management further solidify its position as a market leader.

As of 2023, Rubrik continues to grow its international footprint, with a focus on penetrating new markets in Europe and Asia. With a robust pipeline of products and a strong financial backing from prominent venture capital firms, Rubrik, Inc. is well-positioned for sustained growth in the ever-evolving landscape of cloud computing and data management.

A Who Owns Rubrik, Inc.

Rubrik, Inc. is a privately held company that specializes in cloud data management and security. As of October 2023, Rubrik has completed several funding rounds, securing significant investments from various venture capital firms. The most recent valuation of Rubrik was reported to be approximately $3.3 billion, attained during a Series E funding round in July 2021, where the company raised $180 million.

Notably, Rubrik has attracted investments from prominent firms such as:

• Greylock Partners
• Kleiner Perkins
• Lightspeed Venture Partners
• IVP
• Bessemer Venture Partners

The company's ownership structure has evolved over the years. The following table outlines the major shareholders involved in Rubrik's financing:

Rubrik's founders, including Bipul Sinha and Arvind Jain, retain a significant stake in the company, accounting for approximately 35% of the total ownership. This ownership reflects their leadership and commitment to advancing the company's technology and market reach.

As of October 2023, Rubrik's financial performance has shown substantial growth, with annual recurring revenue (ARR) reported at approximately $500 million. The company has built a client base comprising over 4,000 enterprises globally, including notable clients in finance, healthcare, and technology sectors.

The company has also expanded its strategic partnerships, aligning with major cloud providers such as Microsoft Azure and Amazon Web Services, which further enhances its market position and product offerings.

In summary, Rubrik, Inc. showcases a formidable blend of venture capital backing alongside strong founder ownership, positioning the company for continued growth in the cloud data management space.

Rubrik, Inc. Mission Statement

Rubrik, Inc. aims to transform how businesses manage and protect their data in an increasingly complex digital landscape. The company is dedicated to providing a comprehensive cloud data management platform that empowers organizations to simplify their data operations, enhance security, and ensure compliance. The mission statement of Rubrik emphasizes the pursuit of operational excellence and customer satisfaction through innovation and advanced technology solutions.

According to their strategic objectives, Rubrik highlights three core principles in its mission statement:

• Data Security: Rubrik aims to provide unparalleled protection against ransomware and data breaches, implementing advanced encryption and recovery protocols.
• Operational Efficiency: The mission includes the commitment to automating data management tasks, which helps organizations reduce costs and save time.
• Cloud Freedom: Rubrik promotes the idea of enabling businesses to seamlessly operate across multi-cloud environments, enhancing their flexibility and scalability.

In the fiscal year 2023, Rubrik reported significant growth in its financial performance that reflects its commitment to its mission. Key figures include:

Furthermore, Rubrik's mission is also about delivering value through partnerships and continuous innovation. The company has integrated AI and machine learning into its platform, which enhances data intelligence and speeds up recovery times.

• Partnership Ecosystem: Collaborations with leading cloud providers like Microsoft Azure and Amazon Web Services (AWS) allow Rubrik customers to leverage hybrid solutions efficiently.
• Technological Advancements: The introduction of features such as Rubrik Cloud Vault has positioned the company as a key player in the data management and cybersecurity landscape.

As of October 2023, Rubrik holds a valuation of approximately $3 billion, with expectations of continued expansion driven by the increasing demand for data management solutions in various sectors, including finance, healthcare, and government.

How Rubrik, Inc. Works

Rubrik, Inc. specializes in cloud data management and data protection solutions. Founded in 2014, the company has rapidly established its presence in the data management sector. Rubrik's platform integrates backup, recovery, and archive functions into a single solution, catering to various industries, including healthcare, finance, and government.

As of the latest financial report, Rubrik achieved a valuation of approximately $3.3 billion following its most recent funding rounds. The company's revenue in fiscal 2023 reached approximately $400 million, reflecting a growth rate of around 30% year-over-year.

Rubrik offers a range of products with distinct functionalities:

• Rubrik Cloud Data Management (CDM): This product simplifies backup and recovery across on-premise and cloud environments.
• Rubrik Polaris: A SaaS-based management platform that provides insights and automation for data operations.
• Rubrik Backup Solutions: These solutions focus on securing data across multiple cloud platforms, ensuring compliance and security.

Rubrik's operations hinge on its innovative technology, which is built on a foundation of machine learning and AI. This allows for smarter data management, predictive analytics, and automated processes that streamline operations.

Rubrik operates on a subscription-based model, allowing customers to pay for only what they need, which enhances their cash flow and minimizes upfront costs. The company boasts a diverse customer base, serving over 3,600 organizations globally as of 2023.

The strategic partnerships that Rubrik has forged with cloud providers such as Microsoft Azure, AWS, and Google Cloud Platform have significantly bolstered its capabilities in delivering hybrid cloud solutions. This ensures that Rubrik remains relevant in a competitive landscape.

Rubrik's focus on security includes features like encryption of data in transit and at rest, ensuring compliance with various regulations such as GDPR and HIPAA. The company has also invested in R&D, spending around 20% of its total revenue on developing cutting-edge technologies to stay ahead of emerging threats.

In terms of market position, Rubrik ranks among the top players in the cloud data protection and management space, competing with other giants such as Veeam and Commvault. Its distinctive approach, leveraging a single platform for diverse functions, distinguishes it in a crowded market.

Looking ahead, Rubrik aims to expand its global footprint while continuing to innovate its offerings, particularly in areas such as artificial intelligence for enhanced analytics and automation.

How Rubrik, Inc. Makes Money

Rubrik, Inc. operates primarily in the cloud data management and backup solutions sector. The company's revenue model is primarily subscription-based, providing businesses with cloud data management services, backup and recovery, and disaster recovery solutions. This model allows for recurring revenue that is predictable and scalable.

For the fiscal year 2023, Rubrik reported total revenue of $500 million, reflecting a growth of 40% year-over-year. The subscription revenue accounted for approximately $450 million, or 90% of total revenue, while professional services contributed around $50 million.

Revenue Breakdown

Rubrik's services include a suite of products such as Rubrik Cloud Data Management, Rubrik CloudOn, and Rubrik Polaris. Each of these products is designed to address specific data management needs, which further enhances their market reach.

For FY 2023, the average contract value (ACV) for Rubrik subscriptions reached $12,000, showing an increase from $10,000 in the previous year. The company reported a net retention rate of 120%, demonstrating strong customer loyalty and expansion within existing accounts.

Key Financial Metrics

Rubrik's focus on enterprise clients also helps to drive revenue. Approximately 70% of its customers are large enterprises, which typically lead to larger subscription deals and longer contract durations. The company has consistently reported a customer growth rate of approximately 30% year-over-year.

The tech landscape has been shifting towards cloud services, and Rubrik has positioned itself as a leader in this space. The company has routinely invested in product development, allocating around 20% of its total expenses to research and development, which has allowed for continual innovation and enhancement of its service offerings.

Market Trends and Future Outlook

The global cloud data management market is projected to grow at a CAGR of 23% from 2023 to 2030, providing Rubrik with significant opportunities for expansion. The increased adoption of hybrid cloud environments and stringent data compliance regulations further positions the company for potential growth in their service offerings.

In summary, Rubrik, Inc. earns its revenue primarily through a subscription model, complemented by professional services, and is well-positioned for continued growth in an expanding market. Their focus on enterprise clients, coupled with strong product innovation, sets a robust foundation for future financial performance.