Veeam Software today announced another quarter of double-digit growth with an annual recurring revenue (ARR) increase of 27% year-over-year (YoY), signifying 2021 as the company’s most successful year on record. The company saw its Microsoft Office 365 business grow faster than expected with 73% YoY growth and achieved over 36% YoY growth of Veeam Availability Suite.
“IDC expects the total Data Protection as a Service (DPaaS) market to reach $18.4 billion in spending by 2025,” said Anand Eswaran, CEO at Veeam. “Given the current global landscape and the fact that businesses now have more data than ever to protect — from ransomware and cyberattacks, compliance and new regulations, and the complexities of remote working environments — I believe that the market opportunity is even larger than what is being predicted. Veeam is outpacing the overall market maturation, growing at a much more rapid rate, and is firmly at the epicenter of the data ecosystem. This is a testament to our employees and company culture, the pace of development and innovation, and our collaboration with partners to deliver solutions that exceed customer expectations and build trust.”
