Microsoft-Backed Rubrik Files for IPO, Eyes Funding of $500-700 Million

Rubrik, a cloud and cybersecurity startup supported by Microsoft, has submitted paperwork to the SEC for an initial public offering (IPO), with plans to secure funding ranging from $500 million to $700 million.

Last year, Microsoft participated in a funding round for Rubrik, which resulted in a valuation of $4 billion for the company.

Rubrik disclosed that for the fiscal year ending January 31, 2023, its total revenue amounted to $599 million, showing a slight uptick to $627 million for the subsequent year. Nevertheless, its consolidated statement of operations revealed a widening of net losses from $278 million in 2023 to $355 million in 2024.