Veeam Software announces another quarter of double-digit growth

Veeam Software today announced another quarter of double-digit growth with annual recurring revenue (ARR) increase of 21 percent year-over-year (YoY) for Q3’20. With 400,000+ customers worldwide, Veeam is fueling its growth by continuing to take a share in the core data center backup and recovery market while also embracing new solutions to support organizations’ cloud data protection needs. Veeam’s fastest-growing product, Veeam Backup for Microsoft Office 365, continues incredibly strong growth with 85 percent YoY product growth.

Bill Largent, CEO at Veeam

Additional Highlights of Q3’20:

– Veeam technology alliance resell agreements with Cisco, Hewlett Packard Enterprise (HPE), NetApp, and Lenovo reported 17 percent YoY growth, and a 20 percent quarter over quarter (QoQ) increase in a number of deals closed.

– Over half a million customers have downloaded Veeam Backup and Replication v10 since the general release in February. With more than 150 new features and enhancements, including modern NAS support, Multi-VM Instant Recovery and heightened ransomware protection, v10 includes data protection capabilities that increase availability, portability, and extensibility for Cloud Data Management.

– For the fifth consecutive year, Veeam was named to the Forbes Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.

– Veeam has reached 400,000 customers worldwide, including 83 percent of the Fortune Global 500 and 69 percent of the Forbes Global 2000.

“We understand that, besides people, data is the most important asset for businesses, and empowering our customers to protect it is our mission,” said Bill Largent, CEO at Veeam. “Cloud, Cyber Security and Modern Data Protection are the three pillars that form the foundation driving Digital Transformation (DX) and enable organizations to unleash the power of their data to deliver a rich customer experience. Veeam continues to innovate and stay one step ahead – whether it’s cloud or Kubernetes. Our latest acquisition of Kasten is a testament to that. Our last quarter was very strong, and we’re looking forward to a great finish in 2020 as we continue to announce new solutions that will continue to meet the needs of our customers.”

“We are in a strong leadership position for virtualized and cloud environments,” said Largent. “And, as we move into our ‘Act II,’ a focus on cloud and containers, I am excited about the future and what we are bringing to our customers and partners to continue to help them protect and reuse their data to gain competitive advantage. Veeam will continue to strengthen an already powerful team with new talent and continued employee promotion from within.”