Veeam grows apace as it eyes cloud data management

Veeam today released some headline figures for Q3 and it isn’t showing any signs of slowing down.

The privately-owned company self-reported a double-digit revenue growth quarter, without revealing any actual numbers. Annual recurring revenue increase 24 per cent year-over-year, with an 108 per cent rise in bookings for the same period attributed to its Veeam Universal License subscription deal.

Veeam’s Enterprise business grew 20 per cent and the company counts 81 per cent of the Fortune 500 and 66 per cent of the Global 2000 as customers. It said it has more than 375,000 customers, up from a claimed 350,000 customers in May 2019.

Veeam reported 113 per cent growth in Veeam Backup for Microsoft Office 365, which has been downloaded by more than 84,000 organisations that support over nine million user mailboxes.

Veeam technology alliance reseller agreements with Hewlett Packard Enterprise (HPE), Cisco, NetApp, and Lenovo reported 92 per cent YoY growth, and a 28 per cent quarter over quarter increase

Veeam is now calling itself a leader in Backup solutions that deliver Cloud Data Management.

Can Veeam parlay its virtual server business into a cloud data management business? It’s a big ask and it faces competition from startup Clumio, Cohesity, Commvault, Druva, Igneous, Rubrik, and others.

If Veeam can upsell its 375,000 customers to use its cloud data management products that will give it a formidable start.