Veeam Software announced another quarter of double-digit growth with an annual recurring revenue (ARR) increase of 28% year-over-year (YoY) for Q3’21.
With the fastest revenue growth YoY (25.3%) in the most recent IDC Semi-Annual Software Tracker for Data Replication & Protection 1H’21, Veeam’s momentum is being fueled by more than 20 new product releases and major feature updates this year, and is preparing for two more in Q4: Veeam Backup for Office 365 and Veeam Disaster Recovery Orchestrator v5.
“As businesses struggle to thwart evolving cybersecurity threats and deal with unprecedented global and economic challenges, modern data protection continues to be the golden ticket keeping enterprises secure and driving sustainable business continuity,” said William H. Largent, CEO and Chairman of the Board at Veeam. “With the market average YoY growth at just +2.9% for data replication and protection, our 15th consecutive quarter of double-digit growth is proof that Veeam’s solutions continue to meet and exceed customer expectations, helping businesses across the globe meet operational objectives, while protecting against growing ransomware attacks. This year, we’re also excited to celebrate our 15th ‘birthday’ in October, as we continue to lead the market for backup, recovery and data management. It’s been an amazing 15 years; here’s to the next 15…and beyond.”
“Q3’2021 proves to be a true milestone for Veeam in EMEA, with a 31% YoY increase in ARR. This development is driven by a dedicated and talented EMEA team that strives for excellence and effectiveness in everything we do,” said Daniel Fried, General Manager & Senior Vice President, EMEA, and Worldwide Channels at Veeam. “Customers ask for capabilities that help resolve their digital transformation and modern data protection challenges at once. The most recent IDC Semi-Annual Software Tracker for Data Replication & Protection 1H’21 positions Veeam as the #1 Data Replication and Protection vendor in EMEA. We are thrilled to be recognized, together with our outstanding ecosystem of specialized partners, as we solidify ourselves as the go-to solution and service provider across cloud, virtual, SaaS, Kubernetes and physical environments.”
