Latest news with #Predibase
Yahoo
4 hours ago
- Business
- Yahoo
Rubrik acquires Predibase to accelerate adoption of AI agents
Data cybersecurity company Rubrik announced Wednesday its intent to acquire Predibase. Predibase is a venture-backed startup that helps companies train and fine-tune open source AI models to customize them to their needs. Rubrik is the latest company to make an acquisition with the goal of boosting enterprise AI agent adoption. Terms of the deal were not disclosed, though CNBC reported that the deal was between $100 million and $500 million, a sizable range. Rubrik declined to comment on the deal size. Predibase was founded in 2021 by Devvret Rishi, current CEO, Piero Molino, current chief science officer, and Travis Addair, current CTO. The company has raised more than $28 million in VC money from investors including Felicis, Greylock and Sancus Ventures, among others. The integration of Predibase will allow Rubrik users to accelerate building AI agents through Amazon Bedrock, Azure OpenAI, and Google Agentspace, according to a press release. 'When [Predibase's] capabilities are paired with secure data platforms like Rubrik's, they can be transformative, helping ensure trusted data powers responsible and impactful AI,' Bipul Sinha, co-founder and CEO of Rubrik, wrote in a blog post about the deal. 'Just as Rubrik has simplified access to secured, governed data for AI, Predibase is solving the performance and cost issues around deploying large language models for agentic and other AI applications.' Rubrik is just one in a growing list of companies making acquisitions to bolster their technology stack for the creation of AI agents. Salesforce acquired data management firm Informatica for $8 billion in May. Snowflake acquired Crunchy Data to bolster its AI agent offerings in early June, and Collibra acquired Raito for similar reasons a few days later. Rubrik was founded in 2014 and raised more than $1.6 billion in venture capital, from firms including Khosla Ventures, IVP, and Lightspeed Venture Partners, among others, before going public in April 2024. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
5 hours ago
- Business
- TechCrunch
Rubrik acquires Predibase to accelerate adoption of AI agents
Data cybersecurity company Rubrik announced Wednesday its intent to acquire Predibase. Predibase is a venture-backed startup that helps companies train and fine-tune open source AI models to customize them to their needs. Rubrik is the latest company to make an acquisition with the goal of boosting enterprise AI agent adoption. Terms of the deal were not disclosed, though CNBC reported that the deal was between $100 million and $500 million, a sizable range. Rubrik declined to comment on the deal size. Predibase was founded in 2021 by Devvret Rishi, current CEO, Piero Molino, current chief science officer, and Travis Addair, current CTO. The company has raised more than $28 million in VC money from investors including Felicis, Greylock and Sancus Ventures, among others. The integration of Predibase will allow Rubrik users to accelerate building AI agents through Amazon Bedrock, Azure OpenAI, and Google Agentspace, according to a press release. 'When [Predibase's] capabilities are paired with secure data platforms like Rubrik's, they can be transformative, helping ensure trusted data powers responsible and impactful AI,' Bipul Sinha, co-founder and CEO of Rubrik, wrote in a blog post about the deal. 'Just as Rubrik has simplified access to secured, governed data for AI, Predibase is solving the performance and cost issues around deploying large language models for agentic and other AI applications.' Rubrik is just one in a growing list of companies making acquisitions to bolster their technology stack for the creation of AI agents. Salesforce acquired data management firm Informatica for $8 billion in May. Snowflake acquired Crunchy Data to bolster its AI agent offerings in early June, and Collibra acquired Raito for similar reasons a few days later. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Rubrik was founded in 2014 and raised more than $1.6 billion in venture capital, from firms including Khosla Ventures, IVP, and Lightspeed Venture Partners, among others, before going public in April 2024.
Business Wire
11 hours ago
- Business
- Business Wire
Rubrik to Acquire Predibase to Accelerate Agentic AI Adoption
PALO ALTO, Calif.--(BUSINESS WIRE)--Rubrik, Inc. (NYSE: RBRK) announced it has entered into an agreement to acquire Predibase to accelerate agentic AI adoption from pilot to production at scale. Together, Predibase and Rubrik will deliver radical simplicity in models and data, resulting in improved accuracy, lower costs, better performance, and automated data governance. Venture firms Greylock and Felicis led funding of Predibase to date; terms of the transaction were not disclosed. Completion of the transaction is subject to customary closing conditions. Founded by AI technologists from Google and Uber, Predibase offers a fast way to fine-tune open source models into highly accurate, production-ready solutions. The Predibase platform combines a proprietary post-training stack for customizing models with a highly optimized inference engine. The platform includes a turbo serving engine for over 2x performance gains, along with LoRA eXchange, an open source system for deploying personalized models at scale. With Predibase, teams can support different users, use cases, and departments without ballooning infrastructure costs. 'We created Predibase to lift the barriers between an idea and production-ready AI. Today, many organizations still face challenges moving beyond the proof-of-concept stage,' said Devvret Rishi, Co-Founder and CEO of Predibase. 'Predibase removes the hardest part of that journey and accelerates production-ready AI by giving teams an easy-to-use platform to tune models to their own data and run on an optimized inference stack. This unlocks more accurate results and faster models, all at lower cost.' Overcome the Proof of Concept Wall Gartner found on average that more than half of AI projects never make it into production and it takes eight months to go from AI prototype to production. Common hurdles include the risks in accessing valuable data, limitations in model accuracy and quality, high infrastructure costs, and a lack of data governance. These challenges lead to extended time to realize a clear return on investment. Predibase delivers better performance, up to 80% cost savings, and reduced AI infrastructure complexity over hosting foundation models. A Powerful Combination for Secure, Scalable AI 'What the Predibase team has achieved with model training and serving infrastructure in the last few years is nothing short of remarkable. AI engineers and developers across the industry trust their expertise,' said Bipul Sinha, CEO, Chairman and Co-Founder of Rubrik. 'Together, Rubrik and Predibase will drive agentic AI adoption around the world and unlock immediate value for our customers.' Integrating Predibase will expand the work to secure and deploy GenAI applications that Rubrik is doing today with Amazon Bedrock, Azure OpenAI, and Google Agentspace. Organizations globally rely on Rubrik to tackle complex challenges including accessing the right data, managing security, and optimizing for cost and performance. The combination of Predibase and Rubrik will bring optimized, fine-tuned, cost-effective models with governed data to help customers securely deploy agentic AI. Bipul Sinha discussed the acquisition in a blog post here. About Rubrik Rubrik (NYSE: RBRK) is a leading cybersecurity company that helps businesses keep their most sensitive data safe from threats like hackers, ransomware, and outages. Rubrik protects and secures critical information so that customers in industries like healthcare, finance, education, and the government, can recover quickly and keep running smoothly, no matter what happens. Trusted by more than 6,000 organizations, Rubrik is on a mission to secure the world's data – running in modern systems and technologies, including cloud and AI. For more information, please visit and follow @rubrikInc on X (formerly Twitter) and Rubrik on LinkedIn. About Predibase Predibase is the fastest and most efficient way to customize and deploy models tailored to your use case and data. As the developer platform for productionizing open source AI, Predibase makes it easy to fine-tune and serve any model on cost-effective serverless infra that scales for the most demanding workloads. Predibase is trusted by organizations ranging from Fortune 500 enterprises to innovative startups. Most importantly, Predibase is built on open source foundations and can be deployed in your private cloud so all of your data and models stay in your control. DISCLAIMER: This press release is neither an offer to sell nor a solicitation of an offer to buy any securities nor shall there be any sale securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. FORWARD LOOKING STATEMENTS: This press release contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including information related to Rubrik, Predibase and the acquisition of Predibase by Rubrik that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the proposed transaction for Rubrik, Predibase and their respective customers, and Rubrik's plans, objectives, expectations and intentions with respect to the combined company. Risks and uncertainties include, among other things, risks related to the ability of Rubrik to consummate the proposed transaction on a timely basis or at all; Rubrik's ability to successfully integrate Predibase's operations and personnel; Rubrik's ability to implement its plan, forecasts and other expectations with respect to Predibase's business after the completion of the transaction and realize expected synergies; and Rubrik's ability to realize the anticipated benefits of the proposed transaction, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption 'Risk Factors' and elsewhere in Rubrik's most recent filings with the Securities and Exchange Commission, including in its Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2025. The forward-looking statements included in this communication are made only as of the date hereof and are based on information available to Rubrik at the time those statements are made and/or management's good faith belief as of that time with respect to future events. Rubrik assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.
CNBC
12 hours ago
- Business
- CNBC
Rubrik agrees to buy AI startup Predibase for over $100 million
Data management software vendor Rubrik said Wednesday that it's buying Predibase, a startup that helps with the deployment of artificial intelligence models. Terms of the deal weren't disclosed, but a person familiar with the transaction said Rubrik intends to pay between $100 million and $500 million. The person asked not to be named because the numbers are private. Rubrik is acquiring its way into the red-hot AI market. Cloud infrastructure providers are generating billions of dollars from renting out Nvidia graphics processing units for training and running models, while model developers Anthropic and OpenAI are growing rapidly by selling subscriptions to their chatbot services. Other companies with specialized software are bringing out dedicated AI tools. Rubrik, which went public last year, has built a business with over $1 billion in annualized revenue by backing up its customers' data so clients can quickly recover from cyberattacks. With Predibase, Rubrik can expand into helping companies operate cost-efficient models that draw on internal data. "We are an ambitious company, and we want to be a multi-product, multi-generational company," Rubrik CEO Bipul Sinha said in an interview. Predibase was launched in 2021 by a group of founders that included Travis Addair and Piero Molino, who both previously worked on AI tools at Uber that have since gained adoption outside the company. The startup employs 25 people and is based in San Francisco. Venture firms Felicis and Greylock Partners invested over $28 million in the company, and clients include Checkr, Marsh McLennan and Qualcomm. Predibase will operate as a separate unit after the deal closes, and will continue allowing customers to connect data stored in third-party systems from Amazon, Databricks, Google and Snowflake, in order to customize models. Predibase will also be able to consume data stored in Rubrik's Annapurna, which can incorporate data from external sources, Sinha said. From there, Predibase runs models on cloud infrastructure. Rubrik has nearly tripled in value since its IPO last year, as revenue has consistently surpassed Wall Street's projections.
