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Rubrik eyes data management market takeover with $61 million funding round

Rubrik was pretty confident about its hybrid cloud data management when we caught up with the team a few months ago as it was expanding into Europe.

Now it’s back with a $61 million Series C round of funding and its eyes firmly fixed on the “$48 billion legacy data management market” led by the likes of EMC.

Speaking to NS Tech, CEO Bipul Sinha admits that Rubrik has taken less than one per cent of this since it went to market 30 months ago, but points out that only 2 per cent is a billion-dollar opportunity.

Asked why the company’s huge competitors aren’t simply innovating Rubrik into oblivion, he said they “just hadn’t expected to be disrupted in this way, the industry hasn’t changed for 10 or 15 years”.

Sinha said that while traditional vendors still get you to buy “three or four products” to fully address data management, with its latest update, Rubrik offers “data protection, search, analytics, archival and copy data management” all in one.

Since we last spoke, the company has been beefing up its software offer to address some of the key criticisms levelled at it by Gartner when it was named a 2016 ‘cool vendor’.

That means it now works with Microsoft SQL and Linux servers and takes cloud-based server support from just AWS to other popular providers including Microsoft Azure.

The company says it counts “numerous Fortune 500 companies” as customers, but is particularly cagey about who they are.

The latest funding round brings total cash raised to $112 million by the company led by  the early Hootsuite and Snapchat investor Sinha.

Of course, startup companies can raise a lot of money and end up with nothing, but Rubrik is now focused on ensuring it can rapidly scale, offer good customer support and continuing to add new features.