Rubrik, the data security software provider, is set to list shares on the New York Stock Exchange after it filed to go public on Monday.
The cloud-based ransomware developer, which was founded in 2014, serves more than 6,000 customers including Nvidia and Home Depot.
In 2021, the group was valued at around US$4 billion after Microsoft purchased a stake in the cybersecurity group.
Rubrik’s IPO represents an ongoing resurgence in the public market following a two-year-long lull, with large companies such as Reddit and Astera Labs having already debuted in 2024.
A listing for Rubrik could take place as soon as April, reports revealed, despite the group dealing with an ongoing fraud investigation into an ex-worker.
In its last financial year, the tech firm posted a net loss of US$354.2 million, worsening from a net loss of US$277.7 million a year prior.
Cash returns such as dividends aren’t expected to be distributed by the company for the foreseeable future.
Rubrik is expected to trade under the ticker ‘RBRK’ and the underwriters are expected to include Barclays, Citigroup, Goldman Sachs and Wells Fargo.