Nobody launches a cloud backup startup anymore. The market is far too crowded and commoditized. That was my thinking until I heard John Thompson (Microsoft's chairman and Symantec's former CEO) has invested in Rubrik, a cloud backup startup that emerges from stealth mode today.
During an exclusive podcast with After Nines Inc. (Episode 27, 9:01 p.m. ET tonight), Rubrik CEO Bipul Sinha describes his company's strategy. Backed by $10 million in Series A funding, Rubrik has developed a Converged Data Management platform that sounds somewhat akin to Apple Time Machine for enterprise, midsize and small business customers.
True believers (a.k.a., Rubrik's investors) include Thompson -- plus ServiceNow CEO Frank Slootman and Veritas Founding CEO Mark Leslie. Also, the four Rubrik co-founders have previous experience at Google, Nutanix, Oracle, PernixData, Riverbed,and Tagtile (acquired by Facebook).
Admittedly, I was somewhat skeptical when I heard about yet another cloud backup startup. Although it's a growing market, I've watched cloud backup companies...
- pivot (Doyenz... now rCloud);
- implode (Zenith Infotech);
- deal with hostile takeover bids and CEO transitions (Carbonite);
- miss market inflection points (CA Technologies, Symantec); and
- navigate purgatory -- growing nicely but not quite fast enough to pursue an IPO or M&A exit.
Still, there are some key success stories in the cloud backup space -- well beyond the walls of Amazon Simple Storage Service (S3).
Venture money, private equity dollars and key advisors continue to embrace the market. A few recent market moves worth tracking involve Datto (advised by VMware's former CTO) buying Backupify; Intronis Winter Release; and Axcient raising $25 million in Series E funding (Podcast 22 with Axcient CEO Justin Moore).
Still, Rubrik believes there's more room for disruption and innovation. The company's Early Access Program launches immediately. CEO Bipul Sinha says customers can be up and running with the cloud solution in 15 minutes or so. Get details and insights during our podcast conversation (Episode 27) with Sinha this evening, 9:01 p.m. ET.
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