Big news today from storage vendor Rubrik—both on a product front and a business one.
First to the dollars: Rubrik is announcing a $61 million Series C investment led by Khosla Ventures with participation from existing investors Lightspeed Venture Partners, Greylock Partners and angel investors. This is a huge round, especially given the current state of the venture capital space, and it is a testimony to Rubrik’s execution to date.
The investment takes Rubrik’s total funding to date to $112 million and will give the company the confidence to ramp up its sales, marketing and operations spend to take advantage of the opportunity it has. And if you needed an indication of just how big that opportunity is, that $112 million has poured in over a short period of only 30 months precisely because the market opportunity is huge. The legacy data management market is estimated to be $48 billion in value, and it is undergoing seismic changes right now.