Rubrik Inc, a cloud data management and data security startup based in the United States, is strategizing an expansion of its operations in India. In response to the rising frequency of cyber attacks, the company, supported by Microsoft, is actively considering acquisitions and aims to capitalize on the significant growth in data and digital services. With a presence in India for more than six years, constituting one-third of its global operations, the company is currently engaged in discussions with several startups in the country.
Rubrik has undertaken a mission to safeguard the world’s data, driven by the belief that the cybercrime industry is projected to reach a value of $10 trillion by 2025. This would position cybersecurity as the world’s third-largest economy. Bipul Sinha, Rubrik’s Chairman, co-founder, and CEO, highlighted a report indicating a potential ransomware attack every two seconds in the coming decade.
In a statement provided to the Economic Times, Sinha emphasized the inevitability of cyber-attacks and the urgent need for enhanced cyber defense in India. This need becomes even more critical as the country experiences an expansion of its digital footprint, coinciding with the introduction of new laws such as the Digital India Act and the Digital Personal Data Protection framework.
Rubrik has collaborated with a cyber insurance provider in India to support financial services companies. Sinha mentioned that these entities handle substantial amounts of data and have traditionally been at the forefront of adopting intellectual property (IP) and cybersecurity measures due to the stringent regulatory framework, both globally and in India.
In July, Rubrik initiated a ransomware recovery warranty campaign in India, amounting to $10 million. According to this initiative, Rubrik commits to covering the expenses associated with restoring protected data in case the retrieval of lost data proves unsuccessful.
Within India, the ten-year-old startup has expanded its workforce to 1,000 employees and is planning to further increase the number. The company caters to over 5,000 enterprise customers, which include notable names such as Pepsico, Honda, GSK, Sephora, and Home Depot.
Sinha added: “We are educating our customers to highlight that if companies solely rely on preventing attacks, then you are failing to create a proper plan. We want to help India and also help ourselves along the way to deliver digital trust.”