Title: Implications of Rubrik’s IPO for Revitalizing Tech Companies through Public Markets
Rubrik, a data cybersecurity company that raised more than a half-billion dollars while private, filed to go public after the bell on Monday.
As a private-market company, Rubrik last raised a lettered round in 2019 when it closed $261 million at a $3.6 billion post-money valuation, according to Crunchbase data.
However, subscription revenue grew 40% over the same period, rising from $385.3 million to $537.9 million.
The growth in its subscription revenue, and not its legacy revenues, is the engine that could propel Rubrik to a successful IPO.
A Silicon Valley storyRubrik’s potential IPO could prove a coup for Lightspeed Venture Partners, a well-known Silicon Valley venture capital shop.
