Veeam Invests $150 Million to Expand Main R&D Center in Prague, Czech Republic

Veeam Software, Inc. plans to invest $150 million to expand its main R&D Center in Prague, Czech Republic.

The investment allows to attract additional 500 software developers, adding to its current workforce of more than 3,600 employees worldwide.

Veeam’s investments will be focused on the development of the company’s Intelligent Data Management platform by prioritizing recruitment of high-tech roles including product management, software engineering and quality control. The move will provide another boost to the growing high-tech Czech technology sector, which has seen increased levels of investment from foreign businesses over the past 18 months. The center in Prague is Veeam’s main R&D facility worldwide and is responsible for more than 50% of the total of Veeam’s R&D spend.

“Veeam has a strong 12-year history of innovation, disrupting the legacy backup market and revolutionizing modern data protection for private cloud datacenters traditionally built on VMware and Hyper-V. The $150 million investment demonstrates our global commitment to continuous innovation by recruiting the top talent and expanding our main R&D center to help extend the company’s leading Intelligent Data Management Platform. The platform is designed to help customers with their strategic digital initiatives to move, manage and protect data in Hybrid Cloud environments,” said Ratmir Timashev, co-founder and EVP, WW sales and marketing, Veeam.

Veeam continues to add 4,000 new customers per month, gaining market share over competitors, and has recently celebrated its 41st quarter of consecutive double-digit growth.

According to the IDC Software Tracker for Data Replication and Protection 1H18, Veeam is #4 in market share after Dell, IBM and Veritas, and ahead of Commvault, and the fastest-growing vendor with 24.7% Y/Y growth, while IBM and Veritas are shrinking and the overall market is only growing 2.8%. Driving such growth is the company’s ongoing focus on innovation and delivering new capabilities to more than 320,000 customers globally and working with its partner ecosystem.

The Switzerland-based firm’s investment will also deliver a corporate social responsibility project for the company, starting with building 30 bicycles for the Klokánek Sterboholy care home to support the health and wellbeing of local children in need.