The investment seeks to boost Rubrik’s plans of launching data management products for enterprises to fortify their position in the global cloud market.
Cloud management company Rubrik have raised USD 261 million in Series E funding from new investor Bain Capital, with strong participation from existing investors Lightspeed, Greylock, Khosla Ventures and IVP. With this investment, Rubrik seek to build new data management products, build strategic alliances with cloud giants like Microsoft, Google, Oracle, Nutanix etc. and accelerate their go-to-market strategies globally.
According to Rubrik, enterprises have adopted the cloud to store data but drawing business intelligence and insights still is an issue given the sheer size of it. Moreover, they say that since the size of their data is large, having complete control over it in terms of security is also very difficult since it gets exposed to cyber risks on a daily basis.
With the USD 261 million investment, Rubrik claim that they will focus their energy towards building data management products in the cloud that can provide protection from cyber attacks. They also say that this capital will be channelised towards creating automated cloud products that can be integrated with the products of cloud giants such as Google, Microsoft, Oracle and the likes.
Bipul Sinha, Co-founder and CEO at Rubrik believes that the cash infusion will speed up the introduction of new products in 2019. He claims that these products will solve the issues and challenges faced by customers and expand the strategic footprint of their enterprise.
Analysts believe that this move will definitely shake up Rubrik’s competitors in the market. It will be exciting to witness how Rubrik’s market rivals like Commvault respond to this development, after striking an alliance with Alibaba Cloud for data management solutions.