rubriks

Rubrik’s Initial Public Offering Filing Unveils the Formation of an AI Governance Board. Prepare for It.

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According to the Form S-1, the new AI governance committee includes managers from Rubrik’s engineering, product, legal and information security teams. Here’s why having AI governance could become the new normal. “Aside from its strategic role to devise and oversee an AI governance program, from an operational perspective, AI governance committees are a key tool in addressing and minimizing risks,” he said. The EU AI Act has teeth, and “the penalties for non-compliance with the AI Act are significant,” British-American law firm Norton Rose Fulbright noted. Establishing AI governance committees likely will be at least one way to try to help on the trust front.

Title: Implications of Rubrik’s IPO for Revitalizing Tech Companies through Public Markets

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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.

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