Shares of data security and management company Rubrik rose 21% in early trading Thursday, marking the latest large software debut in an IPO market that's showing signs of resurgence after a long lull. Palo Alto, California-based Rubrik priced its initial public offering at $32 a share on Wednesday, above the projected range of $28 to $31. The offering raised around $752 million for the company, and set an initial valuation around $5.6 billion. Shares are trading on the New York Stock Exchange under the ticker symbol RBRK. Founded in 2014, Rubrik pitches itself as a provider of tools for organizations to secure their data across the cloud and recover from cyberattacks. The company's IPO prospectus also plays up its AI expertise, stating that it can 'apply artificial intelligence and machine learning directly to business data to understand emergent data security threats and deliver cyber recovery.' Rubrik raised considerable funding as a private company, pulling in more than $550...
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