Rubrik, the startup that provides data management services like backup and recovery to large enterprises, is in the process of raising between $150 million and $200 million on a valuation of $1 billion, as we reported yesterday. And as a measure of how it’s growing, today it’s announcing an expansion of its product set, specifically in cloud services.
Now Rubrik — which targets enterprises that run services in hybrid environments across both cloud and on-premise software — can run directly in AWS and Microsoft’s Azure cloud platforms. This means that enterprises that run apps or store data on these platforms can now run Rubrik in the cloud to index, back up and recover everything.
In the past, you would have had to run this on a Rubrik data appliance stored on premises in a customer’s data center, sending the data to and from the cloud to do so. Now you can run the software fabric as an instance in the cloud to backup, recover, replicate, archive, manage and analyse your data.
The new cloud-native service also works across multiple clouds — significant since deployments across multiple clouds and on-premise services is very much the norm for many businesses, with more than 80 percent of all organizations opting for hybrid solutions that incorporate their legacy systems as well as newer platforms.
This is particularly true for large enterprises, which tend to be older and include the addition of several businesses by way of rapid, inorganic growth (M&A). This is something that is also driving a separate market for cloud aggregation and optimization services: as we reported last week, Microsoft is currently looking at buying a startup called Cloudyn specifically to pick up some of this kind of technology.
“To successfully operate in a multi-cloud world, enterprises require a backup and data management solution that frees their data from the underlying infrastructure. Rubrik encapsulates all data with rich services—policy, security, automation, access control, compliance, and search—to achieve ultimate workload and data portability across any environment,” said Bipul Sinha, co-founder and CEO, Rubrik, in a statement. “With this monumental release, enterprises can instantly access data within a hybrid cloud environment to deliver best-in-class customer experiences, streamline operations, and prepare for future innovations.”
Rubrik’s been on a growth tear in the last year, and this is what is driving the rapid pace at which the company is raising money at the moment. Today the company confirmed also that it is now on a $100 million annual run rate — a big spike considering that the company has only been selling its services for a year and a half (six quarters to be exact).
The company still would not comment on our funding story from the other day.