When Asheem Chandna arrived at Rubrik’s office in Palo Alto on a Friday night in early 2015, he was eager to see what the young company, still in the process of building its product, had to offer. As a partner at Greylock, Chandna was impressed with the vision presented by the company’s CEO, Bipul Sinha, who outlined Rubrik’s plan to revolutionize the data management and recovery market on a whiteboard. Chandna recognized the potential for a successful business in the sector and decided to invest.
Nearly nine years later, Rubrik made its debut as a publicly traded company with a market cap exceeding $6 billion. Greylock, holding a 13% stake according to SEC filings, saw a significant return on its investment. Chandna’s decision to lead Rubrik’s Series B funding round in 2015 proved to be a wise one, as the company’s value soared over the years.
Chandna’s belief in the importance of people in the venture capital industry guided his decision to invest in Rubrik. He values individuals who are not only driven and ambitious but also self-aware of their limitations and capable of building strong teams to complement their strengths. Grit is another quality that Chandna looks for in founders, as perseverance often trumps superior technology.
Bipul Sinha, Rubrik’s founder, exemplified these qualities by relentlessly pursuing top engineering talent for his startup, despite initial challenges. His determination and ambition eventually led Rubrik to become a successful player in the data management market.
The decision to take Rubrik public, even in a less-than-ideal IPO landscape, showcased Sinha’s boldness and commitment to the company’s growth. With an impressive annual recurring revenue of nearly $800 million, Rubrik’s success is a testament to the resilience and vision of its founder.
Chandna declined to speculate on the future actions of other Greylock portfolio companies but highlighted the continued success of late-stage businesses like Abnormal Security, Cato Networks, Discord, Figma, and Lyra Health. The firm remains dedicated to supporting and monitoring the progress of these companies.
