Veeam Leads Cloud Data Management Market as it Kicks Off 2019 with Q1 Double-Digit Growth
Veeam Availability Suite 9.5 Update 4 and new subscription model fuels 30 percent increase in annual recurring revenue (ARR) and 16 percent total bookings growth as businesses leverage hybrid cloud strategy to drive data availability, agility and business acceleration
Veeam® Software, has announced results from Q1’2019, including obvious impact from the January launch of Veeam Availability Suite 9.5 Update 4, one of the largest and most anticipated product releases in the history of the company, which is now one of the largest private software companies in the world.
Veeam reported a 16 percent increase in total bookings year-over-year (YoY), celebrating more than 343,000 customers, staying consistent with an average of 4,000 new customers each month. Veeam’s Annual Recurring Revenue (ARR) increased 30 percent YoY, a testament to the success of a new unique subscription pricing model for all new Veeam products, including new Veeam Availability Suite 9.5 Update 4. Released to the public at the beginning of Q1, it has more than 200,000 downloads to date.
“In my first full quarter back at Veeam leading sales and marketing, we focused on core priorities that brought us clear success, and that will continue to fuel our growth and validate our leadership position throughout the year,” said Ratmir Timashev, Co-Founder and Executive Vice President (EVP) of Sales & Marketing. “We are now focused on an aggressive strategy to help businesses transition to cloud with best-in-class Backup and Cloud Data Management solutions. IDC has forecast that 90 percent of organizations will embrace a multi-cloud strategy within three years,[i] which provides us a significant growth opportunity to leverage the shift our customers and partners are making, and ensuring we support them in every aspect – with the very best products and solutions. This strategy has also fueled our new Veeam Instance Licensing(VIL) model, which was created to provide flexibility to move workloads from on-prem to public cloud and back without an additional cost. Veeam is the first in the industry to offer this portable, game-changing license approach for managing multi-cloud environments.”
Q1’2019 Customer, Product and Partner Highlights
- Veeam Availability Suite 9.5 Update 4, providing simple, flexible and reliable solutions to help customers migrate to and keep data available in the hybrid cloud regardless of its location, has recorded more than 200,000 downloads in less than 3 months since being generally available in Janury 2019. New product capabilities allow Veeam to deliver virtual, physical, and cloud data management, for any application, and any data, across any cloud, including:
- Cloud Tier – Unlimited capacity for long-term data retention by using native, cost effective object storage integration;
- Cloud Mobility – Easy migration and recovery to AWS, Azure and Azure Stack;
- New Data Governance Capabilities – Increased security and compliance including GDPR and malware prevention.
- Veeam Backup for Microsoft Office 365, currently the fastest growing product in Veeam history, reported 152 percent revenue bookings growth YoY. Veeam Backup for Microsoft Office 365 has now been downloaded by more than 55,000 organizations, representing over 7 million user mailboxes. Veeam recently released version 3 of the product, further solidifying the company’s dominance in the Microsoft Office 365 backupmarket, providing businesses with 30x faster backup, improved security, and enhanced customer visibility and analytics.
- With 343,000 customers worldwide, new Veeam customers includeAKKA Technologies, Halton Borough Council, Sonoco Trident, 3Banken, Nova Scotia Liquor, Colorado Regional Health Information Organization (CORHIO),Northeastern Illinois University (NEIU), Clear Concepts, YMRILINK, TBEA Energy India.
- Veeam received a $500 million investment from Insight Venture Partners and Canada Pension Plan Investment Board(CPPIB) in early January – one of the largest investments in the history of storage software. This is enabling Veeam to pursue an aggressive acquisition and investment strategy of innovative technologies and continue as the dominant leader in the market.
- Cloudcontinues its growth momentum, with Veeam reporting 31 percent YoY growth in its overall cloud business for Q1’2019.
- The Veeam Cloud & Service Provider (VCSP) program has grown to 22,500 partners, with 4,000 of those also qualified to provide Cloud Backup & DRaaS using Veeam Cloud Connect.
- Veeam alliance resell agreements with, HPE, Cisco, NetApp and Lenovo reported 56 percent total transaction growth YoY and 39 percent YoY revenue growth, together completing the overall data management story for global alliance reseller partners.
Registration is now open for VeeamON 2019, the world’s premier event for Cloud Data Management, which will take place May 20 – 22, 2019, in Miami, FL. Nearly 10,000 customers, partners and influencers attended VeeamON 2018 in Chicago, IL and the regional VeeamON Forum events held all around the world.
“Veeam’s commitment to the cloud data protection market parallels what we see as a continued strong, growing and dynamic space. The overall cloud-based data protection as a service market is growing at a 16.2 percent CAGR, much faster than the 3.4 percent CAGR for traditional data protection and recovery software. Veeam continues its strong market growth in both segments by continuing to offer new products and services matched to the rapidly evolving cloud and on-premise requirements.” – Phil Goodwin, Research Director, IDC
“Our enterprise continues to grow, and we needed agility and innovation in our IT infrastructure to keep pace. Upon realizing we needed more than just backup, it became apparent that using the Veeam platform with Azure was the way to get our mission critical applications available, while also establishing a reliable DR environment in the cloud. We now have the confidence that our data and applications are protected through Cloud Data Management. And should any event ever occur, we have the direct restore capabilities to ensure our operations don’t miss a beat.” – Tom Morley, Sr. Director of Global Infrastructure and Operations at ABM Industries, a leading provider of facility solutions and Fortune 500 company