Microsoft-backed Rubrik Unveils Cybersecurity Initiative in India
Cloud data management and data security startup Rubrik Inc., headquartered in the United States, is gearing up to broaden its presence in India. With the rise in cyber threats, the Microsoft-supported company aims to explore acquisitions and capitalize on the significant surge in data and digital expansion. Having established a substantial presence in India for over six years, accounting for one-third of its global operations, Rubrik is currently engaged in discussions with several startups in the country.
Rubrik has set out on a mission to safeguard global data, anticipating that the cybercrime industry is poised to reach a value of $10 trillion by 2025. This projection positions cybersecurity as the world's third-largest economy. Bipul Sinha, Rubrik's Chairman, Co-founder, and CEO, referenced a report forecasting a potential ransomware attack occurring approximately every two seconds in the coming decade.
In a statement, Sinha stressed that cyber-attacks are inevitable and India needs more cyber defence. Especially as the country’s digital footprint grows and comes into play with the newly announced laws around the Digital India Act and Digital Personal Data Protection framework.
Rubrik is collaborating with a cyber insurance provider in India to offer support to financial services companies. Sinha noted that these companies, known for handling substantial volumes of data, have traditionally been at the forefront of embracing intellectual property (IP) and cybersecurity measures, owing to stringent regulatory frameworks both globally and within India.
In July, Rubrik initiated a ransomware recovery warranty campaign in India, committing $10 million to cover the costs of restoring protected data in the event of unsuccessful data recovery. The 10-year-old startup has expanded its workforce to 1,000 employees in India and has intentions to further increase its hiring.
The company serves more than 5,000 enterprise customers, including Pepsico, Honda, GSK, Sephora and Home Depot, among others. 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".