![rubric headquarters](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1219304815/image_1219304815.jpg?io=getty-c-w750)
![rubric headquarters](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1219304815/image_1219304815.jpg?io=getty-c-w750)
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Rubrik plans to file for an initial public offering as early as next week, Bloomberg News reported Friday, citing people familiar with the matter. The cloud and data security startup is partnering with software giant Microsoft (Nasdaq:MSFT).
detail Rubric plans are subject to change, including timing. The company declined to comment to Bloomberg News.
Rubrik may aim to raise between $500 million and $700 million in its IPO, Bloomberg News reported. Microsoft (MSFT) invested in Rubrik in 2021 as part of a funding round that valued the startup at $4 billion.
The IPO market is dominated by social media company Reddit (New York Stock Exchange:RDDT) and semiconductor technology company Astera Labs (Nasdaq:ALAB). Digital marketing company Ibotta (IBTA) and commodity trading company Marex Group (MRX.) have filed for an offering.
Forty-eight companies raised about $9.6 billion through IPOs on U.S. exchanges in the first quarter, up from $3.8 billion for 46 companies in the first three months of 2023, according to Bloomberg data.