Rubrik, cloud data management company, raises $180 million in funding

Converged secondary storage startup Rubrik has raised $180 million in a Series D funding round, making it a total of $292 million in funding since 2015.

Rubrik, which has 330 employees, last raised $61 million in a Series C funding back August 2016 and $41 million in Series B funding in May 2015. The latest investment round was led by Institutional Investors and joined by GreyLock Partners and Lightspeed. The funding round leaves Rubrik with a $1.3 billion valuation.

Rubrik Cloud Data Management combines backup, recovery, replication, Google-like search, analytics, archival and copy data management under a single platform. It is making a push to become a full-scale cloud data management platform, with data orchestration and reporting.

Rubrik CEO Bipul Sinha said the company has reached a $100 million run rate in bookings in six quarters of selling. Sinha said Rubrik hasn’t even touched money from the $61 million Series C funding.

“We have that in the bank,” said Sinha, who as a partner at Lightspeed was an early Nutanix invester. “We have been very prudent and we are making sure we have a long-term strategy to build a large, self-sustaining company. In two years, we want to go public.”

Sinha said Rubrik has 330 employees and has been adding 70 to 90 new employees per quarter. He said he plans to reach between 500 and 550 total employees by next year. About 100 employees are in engineering and another 180 are in sales and marketing with the rest in product support.

“Our plan is to triple our engineering team in the next 18 months,” Sinha said.

The Rubrik Cloud Data Management platform was updated to support native cloud applications in Amazon Web Services (AWS) and Microsoft Azure. The software previously supported AWS and Azure as backup targets. Version 3.2 provides application-consistent snapshots and restores in the cloud; a single control plane for data protection services for native cloud applications; and the ability to replicate data between clouds.

 The Rubrik Cloud Data Management software works across various clouds and on premises on a commodity hardware appliance that the vendor sells with flash and hard disk drives as well as in the cloud.