Data protector Veeam said yesterday annual recurring revenues grew 22 per cent in 2020 and it has more than 400,000 customers under its belt, including 82 per cent of the Fortune 500 and 69 per cent of the Global 2000. The company said 2020 was the second consecutive year that annual bookings surpassed $1bn.
Veeam reported 250 per cent growth in large-deal transactions, with the large deal threshold being $1m.
The company reported 73 per cent growth for Veeam Backup for Microsoft Office 365, its fastest growing product for the past two years in terms of product growth/adoption.
It also noted Veeam Backup & Replication 10 has been downloaded more than more than 650,000 times since its release in February 2020.
Veeam said its technology alliance resell agreements with HPE, Cisco, NetApp, and Lenovo grew 16 per cent Y/Y.
All-in-all, the Veeam revenue growth machine continues racing along, which must be cheery news for Insight Venture Partners. It bought Veeam for $5bn a year ago.