Rubrik , a cybersecurity company, has filed for an initial public offering (IPO) .
In a filing with the Securities and Exchange Commission (SEC) on Monday (April 1) , the company did not disclose the size of the offering, but announced its plans to list on the New York Stock Exchange under the ticker symbol “RBRK.”
Rubrik Security Cloud offers data protection, threat analytics, data security policy, cyber recovery, and additional data security, as described in the presentation.
Read more: SONY: Implements IPO after PS5 sales decline
The company had over 6,100 customers as of January 31, compared to 5,000 the previous year, according to its statement. The total annual recurring revenue from subscriptions (ARR) reached $784 million on January 31, up from $532.9 million on the same date in 2023.
“Rubrik was founded with a vision to provide resilience by securing the most critical asset of any organization – data,” said Bipul Sinha, CEO, president and co-founder of Rubrik. “We developed a unique architecture to combine data and metadata (application framework) from business applications across the cloud, with the goal of ensuring the security and availability of data regardless of its location. This has allowed us to transform data backup into a strategic asset that is at the heart of security and AI.”
98% of businesses face issues due to complex technology stacks, leaving vulnerabilities that adversaries can exploit, Rubrik said on March 27 when it announced a partnership with cybersecurity firm CrowdStrike.
This collaboration is aimed at security professionals who have the necessary vision for the necessary protection against breaches of sensitive information, through a single platform.
Rubrik was founded in 2014 and funded by Microsoft , and in 2021, it was valued at $4 billion.
The announcement of Rubrik for the upcoming public listing (IPO) follows after many requests.
See also: Reddit: Wants to go public with IPO in March
These announcements include: A filing from Ibotta on March 22, which is a provider of digital promotions and marketing solutions – a filing from Reddit in February, the popular social networking platform with over 70 million active visitors – and an announcement from Sony in February that it plans to launch its financial services unit, Sony Financial Group, next fall.
Source: pymnts
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