Managing and archiving corporate data may not be the most glamorous of jobs, but it’s an important one.
Rubrik, a Palo Alto data management startup founded by former Google (GOOG), Facebook (FB), and Oracle (ORCL) engineers, said Tuesday that it had landed $61 million in funding, brings its total backing to a little over $112 million. The startup declined to disclose its valuation, but the investment data company PitchBook estimated that Rubrik has a valuation of $610 million including the latest cash.
Vinod Khosla’s venture capital firm Khosla Ventures led the investment round while existing investors Lightspeed Venture Partners and Greylock Partners also contributed.
It was just last summer that Rubrik raised $41 million to continue building its data archival and management technology. Part of that money was used to increase the number of employees from 40 to over 160 employees, explained Rubrik CEO and co-founder Bipul Sinha.
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The new funding round will be used to “double down in sales and marketing” as the company expands internationally in Europe and the Asia-Pacific region, particularly Japan, said Sinha. Rubrik needed the investment to “scale fast” and become an “independent public company,” which could come in the next three to four years, Sinha said.
“We did not raise money to have free massages,” Sinha said in response to other startups burning through cash by spending on extravagant employee perks.
The startup also introduced a cloud version of its data management technology that would let customers manage their archived data that is stored on the cloud computing services of Amazon (AMZN) and Microsoft (MSFT). Previously, Rubrik only sold hardware technology that would manage a company’s internal archived data that was not stored on the cloud.
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Still, it’s likely just a matter of time before Amazon and Microsoft debut similar data management services like Rubrik’s. But for the time being Sinha says he’s not worried because those companies have a lot of other products to focus on.
“They have lot of fish to fry,” Sinha said.