The Microsoft-backed cloud data platform raised a total of $736 million. : The much-anticipated IPO of Rubrik, which was 20 times oversubscribed, generated some $736 million as shares exceeded the initial pricing range sought by the Microsoft-backed tech firm. The cloud and data startup offered 23 million shares, all from the company, at $32 each, above the range of $28 to $31 cited in the company’s S-1 filing. This puts Rubrik’s valuation at $5.61 billion. As recently as 2021, it was valued more than $4 billion after an investment from Microsoft.