Rubrik, a 9-year-old data security software vendor, filed to go public on Monday, the latest venture-backed company to make moves toward the public market after an extended lull dating back to late 2021.
More than three-quarters of Rubrik's revenue went to pay for sales and marketing in the latest fiscal year.
Following a dry spell that lasted over two years, the IPO market is showing signs of life in recent weeks.
In March, social media company Reddit and data center technology vendor Astera Labs went public on consecutive days.
Prior to that, the last two venture-backed tech IPOs in the U.S. were Instacart and Klaviyo in September 2023, but those deals received tepid responses on Wall Street and failed to crack open the window.
Persons:
Rubrik
Organizations:
Dell, IBM, New York Stock Exchange, Astera Labs
Locations:
U.S, Klaviyo