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16% Total Bookings Yearly Growth for Veeam in 1Q19

Average of 4,000 new customers per month

Veeam Software, Inc. announced results from 1Q19, including impact from the January launch of Veeam Availability Suite 9.5 Update 4.

It reported a 16% increase in total bookings Y/Y, celebrating more than 343,000 customers, with an average of 4,000 new customers each month.

Annual Recurring Revenue (ARR) increased 30% Y/Y, following the success of a new subscription pricing model for all products, including new Veeam Availability Suite 9.5 Update 4.  released to the public at the beginning of 1Q19, it has more than 200,000 downloads to date.

In my first full quarter back at Veeam leading sales and marketing, we focused on core priorities that brought us clear success, and that will continue to fuel our growth and validate our leadership position throughout the year,” said Ratmir Timashev, co-founder and EVP of sales and marketing. “We are now focused on an aggressive strategy to help businesses transition to cloud with best-in-class Backup and Cloud Data Management solutions. IDC has forecast that 90% of organizations will embrace a multi-cloud strategy within three years,(1) which provides us a significant growth opportunity to leverage the shift our customers and partners are making, and ensuring we support them in every aspect – with the very best products and solutions. This strategy has also fueled our new Veeam Instance Licensing (VIL) model, which was created to provide flexibility to move workloads from on-prem to public cloud and back without an additional cost. Veeam is the first in the industry to offer this portable, game-changing license approach for managing multi-cloud environments.”

1Q19 Customer, Product and Partner Highlights

  • Veeam Availability Suite 9.5 Update 4, providing simple, flexible and reliable solutions to help customers migrate to and keep data available in the hybrid cloud regardless of its location, has recorded more than 200,000 downloads in less than 3 months since being available in January 2019. New product capabilities allow to deliver virtual, physical, and cloud data management, for any application, and any data, across any cloud, including:
    • Cloud Tier – Unlimited capacity for long-term data retention by using native, cost effective object storage integration;
    • Cloud Mobility – Easy migration and recovery to AWS, Azure and Azure Stack;
    • New Data Governance Capabilities – Increased security and compliance including GDPR and malware prevention.
  • Veeam Backup for Microsoft Office 365, currently the fastest growing product in firm’s history, reported 152% revenue bookings growth Y/Y. It has now been downloaded by more than 55,000 organizations, representing over 7 million user mailboxes. The company recently released version 3 of the product, solidifying its dominance in the Microsoft Office 365 backup market, providing businesses with 30x faster backup, improved security, and enhanced customer visibility and analytics.
  • Cloud continues its growth momentum, with 31% Y/Y growth in its overall cloud business for 1Q19.
  • With 343,000 customers worldwide, new customers include AKKA Technologies, Halton Borough Council, Sonoco Trident, 3Banken, Nova Scotia Liquor, Colorado Regional Health Information Organization (CORHIO), Northeastern Illinois University (NEIU), Clear Concepts, YMRILINK, TBEA Energy India.
  • The Veeam Cloud & Service Provider (VCSP) program has grown to 22,500 partners, with 4,000 of those also qualified to provide Cloud Backup & DRaaS using Veeam Cloud Connect.
  • Veeam alliance resell agreements with, HPE, Cisco, NetApp and Lenovo reported 56% total transaction growth Y/Y and 39% Y/Y revenue growth, together completing the overall data management story for global alliance reseller partners.
  • The company received a $500 million investment from Insight Venture Partners and Canada Pension Plan Investment Board (CPPIB) in early January – one of the largest investments in the history of storage software. This is enabling Veeam to pursue an acquisition and investment strategy of innovative technologies.

Veeam’s commitment to the cloud data protection market parallels what we see as a continued strong, growing and dynamic space. The overall cloud-based data protection as a service market is growing at a 16.2% CAGR, much faster than the 3.4% CAGR for traditional data protection and recovery software. Veeam continues its strong market growth in both segments by continuing to offer new products and services matched to the rapidly evolving cloud and on-premise requirements,” said Phil Goodwin, research director, IDC

Our enterprise continues to grow, and we needed agility and innovation in our IT infrastructure to keep pace. Upon realizing we needed more than just backup, it became apparent that using the Veeam platform with Azure was the way to get our mission critical applications available, while also establishing a reliable DR environment in the cloud. We now have the confidence that our data and applications are protected through Cloud Data Management. And should any event ever occur, we have the direct restore capabilities to ensure our operations don’t miss a beat,” comments Tom Morley, senior director of global infrastructure and operations, ABM Industries, provider of facility solutions and Fortune 500 company

(1) October 2017 – IDC FutureScape – Doc # US43171317. IDC FutureScape: Worldwide IT Industry 2018 Predictions. By: Frank Gens, Crawford Del Prete, Philip Carter, Bill Fearnley, Al Gillen, Scott Lundstrom, Tom Mainelli, Tomoaki Nakamura, Eric Newmark, Sandra Ng, Robert Parker, David Schubmehl, Vernon Turner, Dan Vesset, Deepak Mohan, Richard L. Villars, Hayley Sutherland

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