Cisco Sells Stake in Data Security Provider Rubrik

Cisco has sold its stake in data security provider Rubrik, which became a publicly traded company in April.

As originally reported by Barron’s, Cisco owned 183,081 shares of Rubrik as of June 30. Cisco's stake in Rubrik was valued just below $6 million at the end of the second quarter. The company sold its Rubrik stock by Sept. 30. 

Cisco’s investment in Rubrik originated with its investment in Datos IO. Rubrik acquired Datos.IO in 2018.

Scott Herren, Cisco’s chief financial officer, has been a Rubrik director since 2021, according to Barron’s.

We couldn't reach Rubrik for comment. A Cisco spokesperson tells us the company's partnership with Rubrik remains unchanged.

Data Security Provider’s Cisco Partnership, Integration

In August, Rubrik announced a new Cisco partnership and integration that the companies said will help organizations protect their data from cyberattacks.

Rubrik joined Cisco’s SolutionsPlus program. All of Rubrik’s products, including its data security posture management (DSPM) offering, are now on Cisco’s Global Price List. In addition, as part of SolutionsPlus, Cisco’s direct and channel sales network can offer Rubrik Security Cloud with Cisco Unified Computing Systems (UCS) and Cisco Extended Detection and Response (XDR). Joint customers now have a validated architecture to mitigate ransomware and ensure business continuity.

Rubrik made its New York Stock Exchange debut on April 25 and its stock price immediately jumped 20%. The stock is trading under the ticker symbol “RBRK” and its price on Thursday closed at $34.63 per share.

Rubrik has more than $919 million in subscription annual recurring revenue (ARR) and 1,969 customers with $100,000 or more in subscription ARR as of July 31.