April 2, 2024 at 09:34AM
Cloud security provider Rubrik has filed for an IPO on the NYSE to raise between $500 million and $700 million. The company’s annual revenue from subscriptions is $784 million, with 6,100 customers and a 47% yearly growth. Rubrik incurred a $277.7 million net loss. CEO Sinha highlighted their AI-driven data defense product Ruby, utilizing Microsoft Azure OpenAI Service. Strategic agreements with Microsoft included equity investment and co-engineering projects valued Rubrik at around $4 billion, and an alliance with commitments to Azure. Rubrik has suffered a cyberattack in the past.
From the meeting notes, I have extracted the following key points and takeaways:
– Rubrik, a cloud security provider, has filed for an IPO on the New York Stock Exchange.
– The company expects to raise between $500 million and $700 million and has reported annual revenue from subscriptions of $784 million, with a net loss of $277.7 million over the most recent financial year.
– Rubrik has a strategic agreement with Microsoft, which includes an equity investment and co-engineering projects to deliver integrated Zero Trust data protection solutions built on Azure.
– The company offers a product called Ruby, which provides AI data defense and recovery using the Microsoft Azure OpenAI Service.
– Rubrik has faced a cyberattack, impacting its IT testing environment, along with other companies like Hitachi Energy and Proctor and Gamble.
These are the main takeaways from the meeting notes.