Make way for another juggernaut amongst enterprise startups: Rubrik, a data backup company that only emerged from stealth in 2015, is in the process of raising between $150 million and $200 million on a valuation of $1 billion as the company enters a period of strong demand for its storage and data management products, according to sources.

TechCrunch first learned of the new fundraise via an anonymous tip. We then confirmed the details with a source close to the company. From what we understand the round is not yet closed.

Continued on source.