Rubrik, a Palo Alto, Calif-based cloud data management startup valued at more than $3 billion, has acquired technology and IP assets from Igneous, a Seattle startup that laid off staff last month.
Founded in 2013 by veterans of Isilon Systems and NetApp, Igneous’ platform provides visibility and storage for unstructured data, or information that isn’t easily categorized, both in the cloud or on-premise.
The company went through an undisclosed number of layoffs in November and employed 69 people at the time; there are now less than 40 employees listed on LinkedIn. Igneous has raised $70 million to date.
Rubrik raised $261 million at a $3.3 billion valuation in January 2019. The 6-year-old company helps companies backup and protect their data across various platforms.
“Combining the innovative technology that Igneous has built with the power and breadth of Rubrik’s platform will bring the best in class solution for unstructured data management to our customers,” Vinod Marur, SVP of engineering at Rubrik, said in a statement. “We are very excited to bring the Igneous team into the Rubrik family and enable our customers to realize the value of their unstructured data while reducing risk and optimizing IT resource utilization.”
Igneous was led by co-founder and former CEO Kiran Bhageshpur. He left the CEO role in June after “the opportunity to step back from my role as the CEO of Igneous presented itself,” according to a blog post. Bhageshpur, who also left the board in November, is “taking a very extended break,” according to his LinkedIn.
Dean Darwin, a former exec at F5 Networks and Palo Alto Networks, took over as CEO and president but he left that role in November, according to his LinkedIn.
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News – Cloud data giant Rubrik acquires tech and IP assets from Seattle startup Igneous