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The company was founded in January 2014 by Bipul Sinha, Arvind Jain, Soham Mazumdar, and Arvind Nithrakashyap.
Institutional Venture Partners (IVP) led a US$180 million Series D funding round in May 2017, at a US$1.3 billion valuation, bringing the company to at least US$292 million raised to date.
In early 2018, Rubrik purchased Datos.io, another cloud data management company.
In January 2019, the startup has raised $261 million, which helped it to reach $3.3 billion total valuation. The core investors were Bain Capital Ventures together with Lightspeed Venture Partners, Greylock Partners, Khosla Ventures and IVP.
In December 2020, the company purchased the assets and intellectual property of Igneous, a Seattle-based company that had recently gone through a mass layoff. Until shortly before the acquisition, Igneous was led by co-founder Kiran Bhageshpur.
In August 2023, it was announced Rubrik had acquired the Israel -headquartered cloud data security company, Laminar Security for 200 million dollars,
On April 25, 2024, Rubrik began trading on the New York Stock Exchange under the ticker symbol RBRK. The company had priced its initial public offering at $32 per share, above its initial target range, raising $752 million at a $5.6 billion valuation. Shares rose 16% on the first day of trading.