How 4 different IITians helped Microsoft-backed Rubrik file for IPO

Founded in 2014 by Bipul Sinha, Rubrik makes cloud-based ransomware protection and data-backup software for over 6,000 customers, including Nvidia, opens new tab and Home Depot. (Image credit: LinkedIn/Rubrik).

Earlier this month, cybersecurity firm Rubrik-backed by software giant Microsoft-said that it was filing for initial public offering (IPO) and went public on Thursday, with the stock closing up nearly 16 per cent.

Rubrik's journey to filing for IPO started a decade ago in 2014- the year the firm was founded-but unlike other startups started by IITians, where two or more batchmates have come together to build a firm and help its growth, Rubrik's journey has been shaped by four men from four different Indian Institute of Technology (IIT) institutes.

Company CEO Bipul Sinha, who founded Rubrik in 2014, is an IIT Kharagpur graduate. Another co-founder Arvind Jain is an IIT Delhi graduate.

Soham Mazumdar, who was one of the co-founders between January 2014 and April 2023 before moving on to begin his own startup WisdomAI, is an alumni of IIT Kanpur while another co-founder and Chief Technology Officer (CTO) Arvind Nithrakashyap is a graduate from IIT Madras.

The interesting aspect about Rubrik's founders is that all four of them come from different IITs.

The trend we see in India is that founders from the same IITs, usually batchmates, end up setting up companies together. That's different here Bipul Sinha - IIT-Kharagpur Arvind… https://t.co/TNHtMadvXf — Madhav Chanchani (@madhavchanchani) April 26, 2024

Founded in 2014 by Sinha, Rubrik makes cloud-based ransomware protection and data-backup software for over 6,000 customers, including Nvidia, opens new tab and Home Depot.

Palo Alto, California-based Rubrik was valued at $4 billion after an investment made by Microsoft (MSFT.O), opens new tab in 2021. Rubrik's subscription annual recurring revenue grew 47% at the end of January, compared to a year earlier, according to its IPO filing.

(With inputs from Reuters).