Rubrik has a clear mission: safeguarding global data. Through their Zero Trust Data Security™ approach, they empower organizations to bolster their resilience against cyber threats such as attacks, insider breaches, and operational disruptions. Leveraging machine learning, Rubrik Security Cloud ensures the protection of customer data across various environments, be it within the enterprise, cloud, or SaaS platforms. This comprehensive solution not only provides data resilience, observability, and recovery but also offers a robust cybersecurity posture.
In line with their mission, Rubrik recently acquired Laminar, aiming to pioneer a complete cyber resilience solution. This integration merges cyber recovery and posture management across different platforms, offering unprecedented protection against threats.
With a customer base exceeding 5,000 worldwide, Rubrik is dedicated to enhancing global threat intelligence. Through initiatives like Rubrik Zero Labs, they provide valuable insights to mitigate data security risks, independent of specific vendors. Additionally, strategic partnerships have led to groundbreaking innovations, including AI integration with Microsoft Sentinel and Azure OpenAI, as well as the development of a pioneering double extortion ransomware solution with Zscaler.
Ransomware poses a significant threat to the global economy, estimated to be worth $8.4 trillion. According to the Rubrik Zero Labs State of Data Security report, which surveyed over 1,600 IT and security leaders, over half of organizations experienced a ransomware attack in the past year.
In India, the situation is particularly dire, with 26% of organizations reporting over 100 attempted cyberattacks within the last year alone. Moreover, 51% of companies suffered customer losses due to cyberattacks. CERT-In, the Indian Computer Emergency Response Team, reported a 53% increase in ransomware incidents in 2022 compared to the previous year.
To address the growing threat of ransomware in India, Rubrik introduced its 10 million Ransomware Recovery Warranty in July 2023. This warranty underscores Rubrik’s commitment to Indian customers, offering assurance and support in the event of an attack, thus elevating data security standards. Furthermore, Rubrik’s presence in India extends to its R&D center in Bangalore.
During an engaging interaction with The Interview World, Abhilash Purushothaman, Vice President & General Manager (Asia) at Rubrik, delved into the nuances of cybersecurity and data security both in India and internationally. He emphasized the specific challenges within various domains and elaborated on the strategic measures undertaken by the organization to enhance its operations and research and development efforts. Now, let’s delve into the key takeaways from his insightful interview.
Q: What is Rubrik’s perspective on the evolving landscape of cybersecurity and data security in both the Indian and overseas markets?
A: Cyberattacks have transitioned from being mere possibilities to inevitable occurrences. The question is no longer if they will happen, but rather when they will strike. Unfortunately, numerous large organizations find themselves unprepared for this stark reality. While infrastructure security and preventive measures are undoubtedly crucial, they alone are insufficient to ward off the evolving threat landscape. It’s imperative to enhance our approach. This necessitates organizations adopting a comprehensive cybersecurity strategy that places a paramount emphasis on data security, particularly in light of pernicious threats like ransomware, which pose significant risks to our economy due to their lucrative nature.
In India, findings from the Rubrik Zero Labs report reveal some concerning trends:
Almost half (49%) of IT leaders in India believe that security remains a glaring omission in their organization’s data policy. Additionally, a substantial portion (30%) perceive their organization to be at high risk of experiencing material loss of sensitive data within the next 12 months. More than half (54%) pinpoint malicious cybercriminal activities as the foremost risk to their organization’s data in the coming year. Furthermore, a significant percentage (34%) acknowledge that their capacity to manage risks to data security has not kept pace with their data growth. On a more hopeful note, over half (54%) of Indian companies anticipate that AI adoption will positively influence their ability to safeguard sensitive data, though a smaller percentage (24%) foresee no impact.
Meanwhile, the non-profit Computer Crime Research Center (CCRC) paints a grim picture of the future, predicting that cybercrime’s cost will soar to over $12 trillion by 2025. Cybercriminals are continually evolving their tactics, devising more sophisticated methods to target their victims. They operate with increased organization and funding, utilizing advanced technologies such as AI to execute more ambitious and successful attacks.
Q: What factors are driving the evolution of the Indian data security/cybersecurity market?
A: Numerous Indian organizations are currently undergoing significant digital transformations to cater to the growing needs of the middle class and take advantage of the widespread availability of fast internet connectivity (4G/5G), even in remote areas. It’s a reality that attacks will occur; they’re almost inevitable. Attackers merely need to succeed once, while defenders must be successful every time. This presents a substantial challenge.
India ranks among the top three most targeted countries in the APAC region, with ransomware incidents skyrocketing by 195% since September 2022. These attacks, characterized by their severity and frequency, are evolving in sophistication. Predictions indicate that ransomware attacks will occur every 2 seconds by 2031, necessitating more robust data protection measures. It’s crucial to recognize that ransomware attackers are usually driven by financial gain, although some incidents may have political motivations. In the increasingly digital landscape of today, burgeoning economies like India are particularly attractive targets for cybercriminals.
Data has emerged as a pivotal asset for organizations. Nonetheless, failing to safeguard this asset can result in financial losses, tarnished reputations, and other detrimental consequences. Thus, prioritizing data security is imperative for organizations embarking on their digital transformation journey.
Rubrik is dedicated to safeguarding global data. We stand ready to assist your organization in protecting its most critical asset: data. A secure data infrastructure translates to a resilient business. By partnering with Rubrik, Indian organizations can ensure a secure and prosperous digital transformation journey.
Q: What are the primary challenges faced in the cybersecurity and data security sectors specific to the India/APAC market?
A: The cybersecurity landscape has undergone a significant shift, moving beyond mere data encryption. A concerning trend known as double extortion ransomware has emerged, wherein data is not only encrypted but also exfiltrated. Particularly in regions like India and Asia, where businesses heavily rely on critical data, this presents a serious threat. Cybercriminals leverage this vulnerability to maximize their gains.
In our recent Rubrik Zero Labs report, which drew insights from over 1,600 global CIOs, CISOs, and security experts, we uncovered some alarming trends. Firstly, nearly every surveyed company had experienced cyber-attacks. On average, these organizations faced approximately 52 potential cyber-attacks in 2022, translating to nearly one attack per week. Furthermore, nine out of ten organizations worldwide reported attempts by malicious actors to disrupt their data backups during cyber-attacks, with these attempts succeeding 73% of the time.
This high success rate can be attributed to the critical role of data backups as the last line of defense against cyber threats like ransomware. When cybercriminals compromise backups, victims often struggle to recover independently, ultimately leading to the likelihood of paying the ransom.
Q: What strategies and measures should governments and the corporate sector prioritize to ensure they are adequately prepared for future cybersecurity and data security challenges?
A: Our research indicates that nearly every company has experienced a cyberattack. In essence, 99% of global IT and security leaders reported being informed of a cyberattack an average of 52 times in 2022, equating to one attack per week. It’s essential to adopt a pragmatic and realistic approach, acknowledging the inevitability of being targeted at some point. Therefore, both government and corporate sectors nationwide must adopt an “assume breach” mindset.
It’s imperative to swiftly transition cybersecurity efforts from solely concentrating on prevention—aimed at halting attacks—to emphasizing resilience and recovery. While stopping cyberattacks entirely may not be feasible, ensuring your business can maintain operations when confronted with them is achievable.
Q: What strategic initiatives is Rubrik planning to implement in India soon?
A: Rubrik maintains its commitment to investing in India, particularly in our advanced R&D center located in Bangalore. This facility plays a vital role in our overall operations. Comprised of talented software engineers, architects, product management teams, and global support teams, this unit leads the charge in creating cutting-edge solutions for data security.
India presents a vast opportunity for us, given its remarkable digital growth in recent years. The rapid shift towards digitization has brought about substantial challenges in data security, exacerbated by evolving industry regulations. Within this landscape, we identify a significant opportunity to assist our customers in safeguarding their data against emerging threats.
Q: What role does the Bangalore R&D centre play in driving Rubrik’s operations and market presence on a global scale?
A: In Bangalore, we operate a sizable research and development center dedicated to pioneering and enhancing the latest features of our platform. Within this facility, various departments such as product development, product management, customer support, customer experience, and global ransomware recovery support work closely together. Our efforts are streamlined and integrated within this single location.
Moreover, our India-based go-to-market teams have recently undergone substantial expansion. This expansion includes bolstering our sales and presales teams across key cities like Delhi, Mumbai, and Bangalore. These teams play a crucial role in assisting our global clientele in safeguarding their vital data against ransomware threats.
Q: What are the current plans, if any, for the expansion or upgrading of the R&D center?
A: Rubrik has identified India as a key market within the APAC region. Recently, Bipul Sinha, the CEO, Chairman, and Co-founder of Rubrik, unveiled our groundbreaking USD 10 Mn Ransomware warranty offering specifically tailored for the Indian market. This initiative underscores Rubrik’s commitment to combatting the escalating threat of cybercrimes through collaborative efforts.
The landscape of understanding, defending against, and preventing cyber threats is intricate and multifaceted. It is increasingly evident that artificial intelligence (AI) and machine learning (ML) play pivotal roles in enhancing data security. These technologies will be harnessed in various capacities.
AI and ML will facilitate anomaly detection, threat intelligence analysis, behavioral pattern recognition, predictive modeling, and automated response mechanisms. Leveraging AI for advanced threat identification and response will complement human expertise, empowering us to develop effective countermeasures. The imperative is to confront cybercriminals’ sophisticated tactics head-on, as they exploit AI for activities like phishing, evasion tactics, and the automated generation of malware.
Establishing a robust ecosystem entails strategic product integrations and forging alliances with OEM partners such as Microsoft and Zscaler. Collaborating on joint initiatives will synergize our capabilities, enabling us to provide AI-Powered Cyber Recovery solutions that cater to our customers’ evolving needs.
Our Bangalore facility serves as a hub for innovation, where modern capabilities like cyber recovery for cloud-native environments are conceptualized and co-developed. This ensures that digital native startups can leverage cutting-edge solutions tailored to their requirements.
In essence, Rubrik is steadfast in its pursuit of leveraging AI and ML to fortify data security measures, both in India and across the broader APAC region, through collaborative partnerships and innovative solutions developed in facilities like our Bangalore office.
Q: What drove the transition from a backup and recovery focus to branding Rubrik as a cybersecurity company? Is this change mainly marketing-driven, or have there been significant shifts in your products and direction?
A: Our primary goal at Rubrik is to safeguard our customers’ data. Since our inception, this has been our unwavering mission. Businesses worldwide depend on us to fortify their resilience against cyberattacks of all kinds. Although Rubrik initially focused on backup and recovery services, we have since placed a strong emphasis on advancing security solutions. One such innovation is the introduction of Rubrik Security Cloud. This platform ensures the protection of our customers’ data, regardless of its location, spanning across enterprise networks, cloud environments, and Software as a Service (SaaS) applications.
