How Rubrik’s IPO paid off for Greylock VC Asheem Chandna

When Asheem Chanda drove up has Rubrik's desk In Palo Alto on A Friday night In early 2015, he was look Before has learning What THE young business that had Again has build It is product would be to show him. THE Greylock partner was not disappointed.

THE the company CEO, Bipul Sinha, drew Rubrik's plan has reorganize THE data management And recovery walk on A Whiteboard. "THE old against new architecture he present was very convincing," Chanda said. "Base on My awareness of THE sector, I knew he could be built In A big business. »

That was A prescient call. On THURSDAY, nine years After that meeting, Rubric began It is life as A publicly negotiated business with A walk cap of on $6 billion. Greylock is holding A 13% bet, according to has THE last SECOND deposits. By THE close of walk Friday, with actions Dear has $38, those almost 19.9 million actions were value on $756 million.

But Chanda said he was a lot more that Rubrik's desire has take on THE esoteric data recovery walk that motivated him has lead Rubrik's $40 million Series B In Can 2015. (THE Series B round sold For $2.45/share, adjustment For divides itself, according to has those SECOND documents. While Greylock Also participated In later Sleeves has upper prices, Chandra Back on This A are heavy.)

"THE longer I TO DO What I TO DO, THE more I fundamentally believe that adventure East A people business," said Chandna, WHO has has been A investor For on 20 years And has A enviable track save of successful exits. He has help incubate Palo Alto Networks In Greylock desks And was on THE almost $100 worth a billion the company advice until last year. Chanda was Also A early investor In AppDynamics, Sumo Logic And Ariste Networks.

Chanda looks For people WHO are not only motivated And ambitious, but are Also self-conscious of their weaknesses, And can recruit people WHO can get things do In areas that are not THE of the founder strong costumes.

Another essential ingredient For A founder East squeak. "If You had technology that was adequate, but slightly lower has My technology, but You were very self-conscious And persistent, You will beat Me," he said.

It is What he saw In Sinha. Rubrik's founder had A for life dream of departure A business. When he based THE data management And recovery to start up In 2013, he I could not find strong engineers WHO research has come work there, Chandra recalled. THE business he was trying has build was intrinsically not sexy has THE time.

Despite having has been A investor with Speed ​​of light For four years Before launch Section, recruitment Talent turned out has be A big challenge For Sinha. But he doesn't give up. He crazy engineers on LinkedIn And SO guest them For coffee blocks far Since Or they worked.

"To start up travel are very hard, even For THE most successful companies," Chanda said. "I to want people WHO won't take 'No' For A answer. »

Maybe he was Sinha squeak And ambition that constrained him has take her business public despite THE lukewarm Initial Public Offering environment.

« Section has just below $800 million In annualized recurrent income," Chanda said, "It is bigger that most companies that went public In THE last a lot years. I think they just research has get on with that."

Chanda decreases has say if he waits other Greylock wallet companies has follow Rubrik's lead but added energetically that THE the company the most efficient advanced stage companies are Unnatural Security, Cato Networks, Discord, Figma And Lyre Health.

We will be following their fate up close.