US-based cloud data management and data security startup Rubrik Inc is planning to expand its business in India. Amid increasing cyber attacks, the Microsoft-backed company is eyeing acquisitions and wants to ride the large-scale data and digital growth wave. For over six years, the company has had one-third of its global operations in India and is now in talks with a few startups in the country.

Rubrik is on a mission to secure the world’s data. The company believes that the cybercrime business will be worth $10 trillion by 2025. This will make cybersecurity the third-largest economy in the world. Rubrik’s chairman, co-founder and CEO, Bipul Sinha, cited a report that projects a ransomware attack likely every two seconds within the next decade.

Rubrik’s plans for India
In a statement to Economic Times, Sinha stressed that cyber attacks are inevitable and India needs more cyber defence. Especially, as the country’s digital footprint grows and comes into play with the newly-announced laws around Digital India Act and Digital Personal Data Protection framework.

Rubrik is also partnering with a cyber insurance provider in India to help financial services companies. Sinha said that these companies carry large amounts of data and have been historically ahead of the curve in adopting intellectual property (IP) and cybersecurity given the strict regulatory framework, globally and in India.

In July, Rubrik launched a $10-million ransomware recovery warranty campaign in India . Under this plan, Rubrik will cover the expenses for restoring protected data if they fail to recover the lost data.

In India, the 10-year-old startup has grown its headcount to 1,000 employees and plans to hire more.

The company serves more than 5,000 enterprise customers, including Pepsico, Honda, GSK, Sephora and Home Depot, among others.

Sinha added: “We are educating our customers to highlight that if companies solely rely on preventing attacks, then you are failing to create a proper plan. We want to help India and also help ourselves along the way to deliver digital trust.”