Veeam Annual Recurring Revenue Up 21% Y/Y in 1Q20

Veeam Software, Inc. announced an annual recurring revenue (ARR) increase of 21% Y/Y for 1Q20.

With more than 375,000 customers, it is experiencing success in market adoption of its subscription offerings, including Veeam Universal License (VUL), reporting 97% Y/Y increase in bookings.

Additionally, in the most recent IDC Semi-Annual Software Tracker for Data Replication & Protection 2H19, the software vendor had the fastest revenue growth, both sequentially (9.8%) and Y/Y (20.5%) in 2H19, among the top 5 vendors, and overall market average.

“Veeam has historically led the market with innovation and ease of use, and we are already extending that into 2020 with the largest and most successful release in the history of the company (Veeam Availability Suite v10), additional new product releases, company growth and hiring momentum,” said Bill Largent, CEO. “However, the first few months of the year have been unusual to say the least for all of us. We are having to conduct business in a different way, ensuring that the Veeam community – employees, partners and customers – stay safe during this period. I’m very proud of our 4,300 employees as we have continued to grow during this challenging time while not missing a beat on customer support. This not only validates the need for BC and data protection, but also validates strong demand for Veeam’s market leading solution.“

Veeam recently launched the a robust solution for complete data management and protection for hybrid-cloud environments –  Veeam Availability Suite v10. With more than 150 new features and enhancements – including NAS support, Multi-VM Instant Recovery and heightened ransomware protection – unique downloads of v10 have already exceeded 175,000 in 2 months since availability. 

“In addition to v10, Veeam Backup for Amazon Web Services, Veeam Backup for Microsoft Azure, and Veeam Backup for Microsoft Office 365 will continue to fuel growth,” added Danny Allan, CTO and SVP of product strategy. “I could not be more excited or confident in our current position to continue to gain market share and strengthen our enterprise footprint with additional product launches. Our recent distinctions from top industry analysts are further driving this market-leading momentum within the cloud data management space.”

“The data replication and protection market remains highly dynamic with growth being driven by hybrid cloud deployments and more complex workloads. By supporting AWS and Microsoft Office 365 backup/recovery, Veeam continues to deliver impressive growth in these key areas,” said Phil Goodwin, research director, IDC. “Veeam has fueled its growth by moving agilely into new market segments and has further opportunities to do so in 2020.“

“We are really looking forward to v10, because it’s going to improve what is already existing. The main feature, I think, is that it will be easier to backup NAS file systems and this is something that we used currently in work-around mode because we are backing up our NAS VMs directly,” said Pascal Garcia, head of infrastructure systems, Toulouse satellite operations center, Airbus Defense and Space.

“Some of the most important data captured at GNC is the success of our promotions and customer loyalty. That collection of data is backed up and made safe by Veeam. 40% of the incremental sales rely on customer loyalty program data protected by Veeam. Prior to assigning a relationship with Veeam, we did an extensive ROI and the ROI over three years was close to six figures, which solidified Veeam as a long-term partner with GNC,” said Scott Saeger, CTO, GNC.

“Veeam Cloud Data Management plays a critical role at TechnipFMC by optimizing IT operations and protecting our data and environments. The result is reduced costs and the ability to take advantage of the ROBO feature. Working with TechnipFMC, the technical team at Veeam reshaped and simplified the support model for our line of business, providing a key differentiator for us to support our customer strategy,” said Graham Crisp, VP IT operations and service delivery IDS, TechnipFMC plc.

“With Veeam, it isn’t just their solutions but also their support that can boost customer satisfaction – you get 24/7 support for incidents whenever needed. If we had to rate Veeam’s regional support, that would be a 5 stars service most of the times; still we are eager for better cooperation and success stories with Veeam’s team in the future,” said Ayman Mansour, IT infrastructure department manager, Issam Khairy Kabbani Group of Companies.