NEW YORK : Rubrik Inc, a U.S. cybersecurity software startup backed by Microsoft Corp and valued at $4 billion in a fundraising round two years ago, has hired banks for an initial public offering, four people familiar with the matter said.The Palo Alto, California-based company is working with Goldman Sac
NEW YORK : Rubrik Inc, a U.S. cybersecurity software startup backed by Microsoft Corp and valued at $4 billion in a fundraising round two years ago, has hired banks for an initial public offering, four people familiar with the matter said.
Rubrik may raise more than $750 million in its IPO, three of the sources added, though that may change based on market conditions as the preparations are still at an early stage.Three of the sources said Rubrik could choose to go public in 2024, if the IPO market becomes more welcoming. It has lately been hostile to flotations due to market volatility.Founded in 2014 by venture capitalist Bipul Sinha, Rubrik makes cloud-based ransomware protection and data-backup software.
U.S. IPOs, excluding listings for special-purpose acquisition companies, have raised a total of just $7.7 billion year-to-date, according to Dealogic - a tally that was boosted by the $3.8 billion offering of Kenvue Inc, the consumer health division of Johnson & Johnson.
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