Microsoft-Backed Rubrik Is Said to Raise $736 Million in IPO

Cybersecurity firm Rubrik Inc., a cloud and data security startup backed by Microsoft Corp., is raising $736 million in its initial public offering priced above a marketed range, according to a person familiar with the matter.

Rubrik is selling 23 million shares for $32 each after marketing them for $28 to $31 each, said the person, who asked not to be identified because the information wasn’t public yet.

At that price, Rubrik would have a market value of $5.6 billion, based on the outstanding shares listed in its filings with the US Securities and Exchange Commission. Including stock options ...