Thank You Note

Dear Rubrik Founding Partners,

Your incredible journey — from humble beginnings in India to building a $10B+ tech powerhouse in just a decade — is nothing short of inspirational. As four immigrants with engineering backgrounds, you have turned your vision into reality, showcasing the power of innovation and effective capital deployment.

You embody Fabrica Ventures’ motto: “B2B late-stage ventures with high gray matter density per (plenty of) allotted capital.”

Since your start in 2014, focusing on backup and recovery solutions, Rubrik has evolved into a comprehensive cloud data management and security platform, protecting and managing data across diverse IT environments.

We are honored to have been part of this journey since 2022, when you were a $250M ARR company. Being backed ($535M in funding) by top-tier VCs like Lightspeed, IVP, Khosla, and Greylock, gave us confidence in our investment.

Your successful IPO in April 2024 was a testament to your remarkable progress, and now, surpassing the $1B ARR milestone in Q3 FY 2025, reported on December 5th, is another extraordinary achievement. The market responded with enthusiasm, as your stock surged 20.4% in a single day, valuing Rubrik at over $11.7B. For perspective, you would rank as the 15th! largest company on the Brazilian stock exchange.

Though we deeply admire Rubrik and view it as a “hold-forever” stock, our venture fund structure demands that we sell our shares. We are delighted to deliver a Christmas gift to our LPs — one even joked about being able to afford a few extra panettones (Brazilians do have a great sense of humor!).

Your journey demonstrates that incredible success stories like Rubrik’s are possible. Only here! We hope your achievements help open the IPO window, paving the way for more exceptional companies to enter the public markets soon.

Congratulations on your extraordinary accomplishments. We look forward to following Rubrik’s continued growth and success in the years to come.

Best regards,

The Fabrica Ventures Team & LPs