Veeam Announces Record 2015 Results: 22 Percent Year-Over-Year Growth and Approaching $500 Million in Total Bookings Revenue, While Legacy Vendors’ Revenues Decline.
Thirty-four percent year-over-year revenue growth in enterprise orders and continued DRaaS demand catapults Veeam to reach their goal of $1 Billion in revenue by 2018
Veeam Software has announced it’s highlights of its FY 2015 results, reporting record total bookings revenue of $474 million, a 22 percent increase over the previous fiscal year, and 34 percent year-over-year revenue growth in enterprise orders. Both Q4 2015 and annual results once again show that enterprises are embracing Veeam’s innovative approach of delivering availability solutions, which enable SLAs (service level agreements) for recovery time and point objectives (RTPO™) of less than 15 minutes for ALL applications and data.
“It’s clear from our 2015 results that Veeam has become the standard in the availability market and that enterprise demand for Veeam Availability solutions continues to accelerate rapidly,” said Ratmir Timashev, CEO of Veeam. “Our results are in stark contrast with the declining revenue performance of the largest legacy backup competitors.”
The highly anticipated launch of Veeam Availability Suite v9, Veeam’s biggest release ever, helped fuel Veeam’s growth in the enterprise sector. Veeam helps meet the demands of CIOs who realize that legacy backup is not enough to meet the demands of an Always-On Enterprise. With more than 250 new innovative features and enhancements, Veeam Availability Suite v9 will enable Veeam to continue to grab additional market share in 2016, especially in the enterprise sector.
According to Ratmir Timashev, CEO of Veeam, “Veeam Availability Suite v9, they fully leveraged our strong history of innovation to create an availability solution that enables us to expand into the enterprise sector further than ever before,” continued Timashev. “2015 was a record year for Veeam because we collaborated closely with our partners, alliances, and customers to deliver innovative availability solutions that solve real-life business challenges. We will surpass the half-billion dollar revenue mark in 2016 and fully expect our momentum to continue, carrying us toward our goal of $1 billion in annual revenue by 2018.”
“Veeam has achieved remarkable growth, rising from a start-up in 2007 to becoming one of the top five data protection software vendors in 2015,” said Phil Goodwin, Research Director, IDC. “The company’s 22 percent growth rate is substantially higher than the overall market’s 6.3 percent CAGR that IDC expects through 2019. Moreover, Veeam has developed a substantial ecosystem of resellers and integrators around its DRaaS capability. IDC forecasts the cloud recovery as a service market overall to grow at a 21.44 percent CAGR over the next five years and Veeam has positioned itself to be a strong competitor in this market.”
The cloud has also been a massive driver of Veeam’s 2015 success, especially as the demand for Disaster Recovery as a Service (DRaaS)intensifies. The extended functionality of Veeam Cloud Connect for VM replication and the failover capabilities in Veeam Availability Suite v9 give service providers the ability to provide their customers with cloud-based DRaaS. The Veeam Cloud & Service Provider (VCSP) program, which offers ready-made opportunities for service providers to acquire new customers and grow recurring revenue, reported an increase of 75 percent in the number of transactions year-over-year. The VCSP program grew to more than 10,000 service and cloud providers worldwide in 2015, with more than 1,000 of those partners licensed to provide services for Veeam Cloud Connect.
Additional 2015 Veeam highlights include the year-over-year revenue growth below:
- 94 percent specifically for Veeam Availability Suite Enterprise Plus edition;
- 54 percent for all editions of Veeam Availability Suite;
- 36 percent for the Veeam Cloud & Service Provider (VCSP) program;
- 34 percent year-over-year revenue growth in enterprise orders.
“Veeam Availability Suite v9’s release is a game-changer for the DRaaS market,” said Ian McClarty, President at phoenixNAP, a Veeam Gold VCSP Provider. “The new Veeam Cloud Connect Replication feature will allow us to bring true disaster recovery services, with strong SLAs, to enterprises of all shapes and sizes. Together with its world-class ProPartner community, we are excited to continue to deliver on Veeam’s promise of enabling the Always-On Enterprise.”
During Q4 2015, Veeam also achieved the following:
- Surpassed $1.5 Billion in Lifetime Bookings Revenue: Since the company first introduced its flagship product Veeam Backup & Replication™ in February 2008 (first product in 2007), Veeam has generated more than $1.5 billion in revenues (without any venture capital financing);
- Total Bookings Revenue: Veeam reported 55 percent growth in total bookings revenue in Q4 2015 compared to Q3 2015.
- 183,000 customers in 200 countries: Veeam added close to 15,000 total paid customers in Q4 2015. Veeam’s availability solutions now protect 10.6 million virtual machines worldwide.
- Expansion to 37,000 ProPartners worldwide: Veeam’s commitment to the channel continues to attract new resellers, service providers and VARs.
- Employee growth: Veeam now employs more than 2,000 people worldwide.