Rubrik Is Said to Be Seeking IPO of as Much as $713 Million

Rubrik Inc., a cloud and data security startup backed by Microsoft Corp., will seek to raise as much as $713 million in an initial public offering, a person familiar with the matter said.

The company plans to market 23 million shares for $28 to $31 each, said the person, who asked not to be identified because the information wasn’t public.

A representative for Rubrik declined to comment. The intended price range was reported earlier by Reuters.

Rubrik was founded in 2013 and released its first product in 2016. It said in filings with the US Securities and Exchange ...