28% Y/Y Recurring Revenue Growth in 3Q21 for Veeam

Veeam Software, Inc. announced another quarter of double-digit growth with an annual recurring revenue increase of 28% Y/Y (Y/Y) for 3Q21.

With the fastest revenue growth Y/Y (25.3%) in the IDC Semi-Annual Software Tracker for Data Replication & Protection 1H21, momentum is being fueled by more than 20 new product releases and major feature updates this year, and is preparing for 2 more in 4Q: Backup for Office 365 and DR 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 BC,” said William H. Largent, CEO and COB. “With the market average Y/Y 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 vs. 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.”

3Q21 Highlights

More than 300,000 users have downloaded Backup & Replication v11 since its launch in 1Q. Released as a data protection solution for cloud, virtual, physical, SaaS and Kubernetes workloads, V11 now enables organizations to accelerate cloud adoption by ensuring data is reliably secured, protected and managed from a single console.
Cloud-native data protection reported more than 350% growth Y/Y in 3Q21. New releases of Backup for AWS v4, Backup for Microsoft Azure v3, and Backup for Google Cloud Platform v2 are now integrated directly into Backup & Replication v11a.
Backup for Microsoft Office 365 reported 73% growth Y/Y in 3Q21. The backup and recovery solution for Office 365 enables users to securely backup to any location, including on premises, in a hyperscale cloud, or with a service provider.
Veeam’s single platform is resonating with enterprise customers resulting in +268% bookings growth Y/Y in transactions of more than $1 million. Universal License, a portable license that offers a simple, flexible “per workload” subscription for protecting all workloads across on-premises and hybrid/multi-cloud environments, accounted for nearly 3/4 of net new core transactions in 3Q21, with subscription product offerings reporting 64% growth Y/Y.
Primary storage product line integrations with Veeam have now increased to 86 with greater integration support for HPE Alletra 6000, HPE Alletra 9000, HPE XP8, Dell EMC PowerMax and Hitachi Virtual Storage Platform, furthering the scope of storage integrations and hardware-agnostic options.
In the IDC Semi-Annual Software Tracker for Data Replication & Protection 1H21, the software company had the fastest revenue growth Y/Y (25.3%) among the top 5 vendors, all other vendors combined, and in overall market average. Firm’s growth is more than double the nearest competitor, is cemented as the #2 vendor WW, and stands tall as #1 provider in both EMEA and LATAM in overall revenue growth and market share.
The company now counts 81% of the Fortune 500 and 69% of the Global 2000 as customers. New 3Q advocates include: Aboriginal Peoples TV Network, Ajuntament de Vilafranca del Penedès, Covenco Recovery Services, Diamond Group, Essilor Amera, Fameccanica Group, Fujifilm UK, Lembaga Lebuhraya Malaysia, Liverpool John Moores University, Maintainer Corporation of Iowa, Inc., Mondragon Unibertsitatea, Parul University, Qatar Engineering & Construction Company, Qingdao Huanghai Pharmaceutical Co. Ltd, Swietelsky and TRC Construction Public Company Limited.

“In the last year, we have witnessed how the pandemic has caused companies to accelerate their migration to the cloud, and for many, this environment shift implies risks of data loss, security breaches and increased cloud costs. With this being a main concern for customers it is no surprise that Veeam has dedicated a good part of this year to help customers adapt to the “new normal.” With the V11a enhancements Veeam is enhancing Backup & Replication and Cloud backup capabilities to address evolving vulnerabilities. Veeam’s global Y/Y growth is a result of its stated commitment to keep the customer at the forefront of innovation,” said Phil Goodwin, research VP, IDC.

“At Staples Solutions, we are always looking at ways to further optimize our data protection strategies. With this in mind, we look forward to the additional features in Backup & Replication v11 such as CDP, a hardened Linux repository of immutable backups for extra ransomware protection, expanded instant recovery for Oracle and SQL, and Azure archive, which could provide an additional cost savings,” said Aleh Sadaunichy, infrastructure solutions architect, Staples Solutions.

“Ransomware attacks are increasing, and one of the best ways to avoid them is to have solid backups that can’t be encrypted in a secure cloud. That’s what Veeam offers, and that’s why Veeam is a priority for us,” said Petru Craciunas, uead of IT infrastructure and information security, Essilor Amera.

“We use Veeam not only for data protection, but also for our business transformation to the cloud. Replicating VMs with Veeam is fast and simple,” said Simon Doroja, data center and team lead, Essilor Amera.

“Microsoft Teams has become a key application for Swietelsky during the Covid-19 pandemic. Our employees can work on projects in more than 20 different teams at the same time. With Veeam, we reliably protect all content that is created with Microsoft Teams from risks and data loss,” said Gunter Natschläger, IT manager backup and virtualization, Swietelsky AG.