NEW YORK, April 24 (Reuters) - Rubrik, the

cybersecurity software startup that counts Microsoft ( MSFT )

among its investors, priced its initial public offering at $32

per share on Wednesday above its indicated price range,

according to a person familiar with the matter.

Rubrik upsized its IPO to raise $752 million after selling

23.5 million shares, the source said, requesting anonymity as

the discussions are confidential. It infers a valuation of $5.6

billion on Palo Alto, California-based Rubrik.

Rubrik did not immediately respond to a request for comment.

Rubrik's plans to go public come as the U.S. IPO market is

showing early signs of a rebound after stock market launches

froze up during most of 2022 and 2023.

Following the successful stock market flotations of social

media platform Reddit ( RDDT ) and semiconductor connectivity

firm Astera Labs ( ALAB ), several companies including Cato

Networks and Synechron have kicked off preparations to go

public.

Founded in 2014 by venture capitalist Bipul Sinha, Rubrik

makes cloud-based ransomware protection and data-backup

software. The company serves more than 6,000 business customers,

including Nvidia ( NVDA ) and Home Depot ( HD ).

Rubrik's subscription annual recurring revenue, which

measures customers' full contract values, grew 47% at the end of

January, compared to a year earlier, according to its IPO

filing. It also disclosed a loss of $354 million on revenue of

$628 million for the 12 months ended Jan. 31, compared with a

loss of $278 million on revenue of $600 million a year earlier.

Rubrik will list its shares on the New York Stock Exchange

under the ticker "RBRK" on Thursday. Goldman Sachs ( GS ), Barclays ( JJCTF ),

Citigroup and Wells Fargo are the lead underwriters for the

offering.