All right, welcome to the drill down. We've got the business stories behind stocks on a move. I'm Cory Johnson. And we look at the 50 most important companies in technology. And of course, Rubrik is absolutely one of them. Rubrik CEO says cyber attacks are inevitable. The failure to recover doesn't have to be. Bipul will join us to explain how his company's platform is turning from panic to preemption. But first, it's sponsor time.
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All right, welcome to the drill down. We've got the business stories behind stocks on a move. Data breaches are inevitable. Rubrik CEO Bipul Sinha is the future of security, but what happens after the attack? He joins us right now from Silicon Valley. Hey, Bipul, good to see you. Do you remember we talked many years ago when your company was private? John Chambers was with you. I think he was a former longtime CEO of Cisco and I think he was backing your company as a venture capitalist.
It was a long time ago. So I remember first meeting you in 2017, 2018, and I not only did the Bloomberg show with you but also did Bloomberg radio with you. And Rubrik was like maybe 100 people or something like that. We were a tiny company back then. Thank you so much for tracking us and encouraging us all through the years. Don't know how you've done that.
Yeah, it's good stuff. Well, the story is the same. I mean, you identified this fantastic business problem, but it's more relevant than ever. And I wonder, today is cyber resilience more urgent now than traditional cyber security?
Last 20, 30 years in cyber, we focused on prevention and detection of attacks, and that prevention and detection space has now become like 80 to 100 tools, hundreds of vendors, but we are still seeing so many attacks. You can't prevent the unpreventable. And our thesis was, while the prevention and detection is required, there has to be a new vision, a new future for cyber security around resilience, which says that attacks will happen to you. Assume breach, but are you prepared to keep your services up and running to ensure that banks can still, you swipe your card and give you money even when the banks are experiencing cyber attack. And that was our thesis. We built the whole business around it, and we have a comprehensive and differentiated platform to serve our customers.
How do you explain from a really a 30,000-foot view of how identity recovery solutions from Rubrik are different than the traditional legacy tools?
So if you look at the attack vectors, hackers are not hacking in. Hackers are logging in because they are stealing identities. They're buying identity from dark web and logging in. And when they log in behind the firewall, the world is their oyster. And they are going after identity system, destroying the identity system, escalating privilege, doing all sorts of things. So protecting identity and identity systems are critical. The issue is that identity by itself is important but is a little bit fuzzy unless you bring the data context to it. And that's what we are doing. We are bringing the data context to identity to create a comprehensive identity resilience platform by understanding identity impact on sensitive data, doing the identity recovery, doing the data recovery, bringing your services up and running so that you are ready for the inevitable cyber attack.
And the speed of recovery, of course, is so much faster too, I would imagine. I mean, is that a metric you offer?
Speed of recovery is everything because since attacks are inevitable, you can only be in business if you can quickly restore your services and bring the services up and running. And that's why we created this preemptive recovery engine that while you have not experienced attack, how do we ensure that we prepare you for that eventuality when the attack comes to you? So Rubrik has this precomputed hash and the threat hunting monitoring capabilities so that we are scanning your data proactively, keeping your data and keeping you clean, recovery time ready that as soon as attack hits you are ready to recover as opposed to data processing.
And it's interesting, you know, the effect of AI on everyone's businesses is interesting, but in cyber security it's super interesting because that leading, it seems to be leading to so many more attacks and smarter attacks, and also changes the pace, the evolution of the attacks. But I would think that it's also your company, which you've been, you know, preparing for this moment for so many years, the AI changes things quite a bit.
AI is accelerating everything, both good and bad. So on the good side, it's accelerating productivity. Now you can do more with less. You can actually have an agent that actually completes the task for you. At the same time, on the bad side, the bad actors are using AI to do more intricate, socially engineered attacks. Bad actors are using AI to create bad code faster to attack you, create services around cyber attacks. As a result, the cyber attacks is now going beyond human comprehension, and you have to really fight fire with fire. You have to have machine comprehension and AI to be able to connect the dot across multitude of systems to be able to understand if this is an attack, and if this is an attack, what is the scope and extent of the attack, and how do I contain it, and how do I make sure that I'm back up and running.
I was talking to Nikesh Arora from Palo Alto Networks a few days ago, and what he was trying to convince me was that within the security operations center there are just so many alerts. One of the keys is to just, because the attacks are so numerous, sort of sorting through the most important ones, and those are the ones where an operator can actually respond to, the things where they can actually make a difference is such an important thing, and I would imagine it's the same in your business.
Absolutely. Because look, machine is really good at sorting through large amount of data, trying to bring correlation and create an emergent behavior analytics so that you can quickly see what is going on. And that's why the AI, machine learning, and particularly generative AI that can actually create from information to knowledge and give you exact information of what's going on and being able to communicate that in English or natural language is the power of AI. So I believe that the AI has a great future in cyber from the defense side. Obviously, we are partnering with Palo Alto, we are partnering with CrowdStrike, Zscalers, and all the vendors to bring the data security intelligence to the security operations on the infrastructure side where they are focused so that you have end-to-end picture and end-to-end AI enablement.
It seems when I look at your results and I listen to conference calls that you're getting some really not just new customers but big customers, and big customers are spending a lot more. How should I understand the drivers of that outside of your excellent leadership and your terrific sales team, but you know.
