And joining us on set for a first on CNBC
interview is Rubik's Co Founder,
Chairman and CEO, Bibel Cena along with our own John
Ford.
Guys, good morning, John, take it away.
Thanks. Yeah, good to be back here at the nicey
and at least something is looking up this morning so
far.
We'll see how it works out.
But Bibel, good to see you.
So investors are familiar with Palo Alto Networks,
maybe platforms like Crowd Strike and Z Scaler,
but you're playing in a different space in backup and
safe recovery.
And there's been a spotlight on that from all these
ransomware attacks we've been going through for the past several
years.
So how do you grow from that?
First of all, thank you so much for being here.
It's what an honor to be on this stage in
this time.
Today is the Rubrics public debut.
Our customers, our partners, our employees,
lot of us are here.
So thank you so much for this opportunity.
Look, Rubric is a different kind of cybersecurity company.
We help our customers keep their businesses up and running
even when they had a successful cyber attack or cyber
breach so that
kids can go to school so that hospitals can still
operate,
so that when you swipe credit card money comes out
even if the business is impacted.
That is different from the traditional cybersecurity that is focused
on stopping attacks.
We assume that attacks will happen.
You can't stop the unstoppable.
How do you continue to operate the business even when
you have successful attacks and breach?
So you're running right now at about
780 + 1,000,000 annualized recurring revenue.
You also got about half a billion in sales and
marketing expense.
You're up against some competition.
Com vault is kind of a legacy player that's trying
to change into doing more of the modern stuff.
You got cohesity that just bought an older lion player
trying to beef up and get ready to go public
as well.
What should investors expect from your growth profile that's different?
And how are you going to manage that sales and
marketing expense versus the growth that you expect coming in
the door eventually to profitability?
If you take a step back,
Rubric has transformed backup and recovery industry into a data
security platform to deliver cyber recovery and cyber resilience.
This is a market transition story.
Rubik is leading that market transition and whenever you have
market transition,
not all the legacy player or old players make it
and that's why you see consolidation in our market because
the use case of this product has changed.
We are telling our customers that cyber is the biggest
risk and how do you continue to operate the business
is a very large market.
According to Gartner in the next three years is upward
of $50 billion market.
So we have a we are operating in a large
market with a differentiated product and helping customers make sure
that they can create the digital products and services to
their end. Consumers is coming to grips with the idea
that there will be attacks,
a sign of failure. When it comes to attack security,
it is actually sign of a strength because we have
to reframe cyber discussion.
Cyber discussion cannot say that the defenders are only successful
when they can stop 100%
of the attack. Prevention is required,
but cure is equally required.
Where are the biggest threats coming from?
Biggest threats are coming from the nation state actors.
Biggest threats are coming from
cyber espionage, insider attack. Not to mention that we still
have bored teenagers sitting in the in the basement and
showing middle fingers to businesses and governments around the world.
So you you've also been a venture capitalist.
You just mentioned consolidation that's happening in this industry.
To what degree is M&A,
whether it's tuck in or large are going to be
a part of your playbook now that you're public.
Look, we were building a platform strategy in cybersecurity.
All of the data across all the data states is
protected by rubric and we want to accelerate this platform,
deliver more products and services to our customers.
So we are always looking out to
for interesting people, technology teams,
products and we will continue to accelerate whether it's organic
or inorganic.