COLUMBUS, Ohio – February 10, 2021: Veeam Software, the leader in Backup solutions that deliver Cloud Data Management, today reported results for its fiscal year 2020. Veeam kicked off 2020 with the completion of its acquisition by Insight Partners, which was announced on Jan. 9 at a valuation of $5 billion, setting the pace for a year of substantial growth and expanded success across all market segments, culminating with Veeam’s acquisition of Kasten, the market leader for Kubernetes Backup and Disaster Recovery (DR), in Q4’20.
“Even with the unforeseen challenges and circumstances that began in early 2020, Veeam continued its rapid growth with its second consecutive year of bookings over $1 billion and a 22% year-over-year (YoY) increase in annual recurring revenue (ARR),” said William H. Largent, chairman and CEO at Veeam.
During 2020, Veeam’s vision for hybrid cloud drove the company to continued growth, surpassing 400,000 customers. Specifically, Veeam Backup for Microsoft Office 365, Veeam’s fastest growing product for the past two years, reported 73% growth YoY. Veeam Backup for Microsoft Office 365 has now been downloaded by more than 154,000 organizations, representing over 15 million user mailboxes. Version 5, released in December 2020, adds purpose-built backup and recovery for Microsoft Teams, making it easier than ever for users to quickly find and restore Teams data, including entire groups, specific channels and settings. Protecting this data is more critical than ever, as the shift to remote working has created an explosion in Microsoft Teams adoption over the past year, with 115 million daily active users last month, up 475% from 20 million daily active users almost 12 months ago.[i]
“Insight Partners’ acquisition [of Veeam] at the beginning of the year definitely fueled a fire within Veeam right out of the gate,” said Danny Allan, chief technology officer and senior vice president of product strategy at Veeam. “We then announced the general availability of Veeam Availability Suite v10 which included 150+ new features and set the bar for the next generation of data protection. Despite the challenges that were then presented by the global pandemic to our employees, customers and partners, Veeam continued to focus on its vision and during the year launched 16 major releases to meet the new data backup and protection demands of our customers. As we continue our Act II journey into the hybrid cloud and containers, we’re embracing and developing new technologies. I’m very excited about the upcoming announcement of version 11 of our flagship product, Veeam Backup & Replication later this quarter, which will further strengthen Veeam’s commitment to modernize our customers’ data protection practices.”
Q4 & 2020 Customer, Product and Partner Highlights
For more information, please visit www.veeam.com.
Supporting Quotes
"One of the many lessons learned in 2020 due to the COVID pandemic is that flexibility is key and the ability to adapt is necessary for companies to continue to exist and thrive. Organizations accelerated their use of cloud-based data protection in order to better support the unexpected surge in work-from-home employees. Veeam continued to grow despite the business climate adversities by prioritizing data protection and data management in the cloud. Veeam also made investments in important emerging areas, such as containers and Kubernetes data protection via the acquisition of Kasten.” – Phil Goodwin, Research Director, Infrastructure Systems at IDC
“Veeam supports our banking operations and top business priorities — data protection, BC and DR, regulatory compliance and TCO — at the highest level with minimal effort.” – Efthymios Bekas, assistant manager, IT systems division at Alpha Bank
“Our customers vary across industries, but they have one thing in common. They trust Avnet to help them turn their ideas into products, and we trust Veeam to protect the business intelligence that powers that process.” – Mark Wysolmierski, senior manager of systems administration at Avnet
“Over a three-year period, we estimate a total savings of $2.3 million because of Veeam — an ROI of 352%. That’s only the beginning of the savings we anticipate delivering to the taxpayers of Broward County.” – Tamecka McKay, enterprise infrastructure services manager at Broward County Schools
“Veeam helps us keep the lights on in hospitals and cities for public health and safety, confirm engines in military defense vehicles are operating at maximum capacity and keep trucks on the road so they can deliver freight to support the economy.” – Bobby Stojceski, technology and security manager at Penske Australia and New Zealand
“Veeam is one of the most critical pieces of software in our IT environment because it keeps our core systems operational. It’s clearly the gold standard for modern data protection and a one-stop shop for business continuity.” – Fabiano Lacusso, associate director of systems at Quinnipiac University
“I can say with 100% confidence that we have a reliable data protection system in place. If we’re attacked and compromised by ransomware, we’ll be able to recover all of our data and resume normal operations.” – Steve Garcia, information security officer at Wenatchee Valley College
[i] Microsoft Teams at 3: Everything you need to connect with your teammates and be more productive, By Jared Spataro, Corporate Vice President for Microsoft 365; https://www.microsoft.com/en-us/microsoft-365/blog/2020/03/19/microsoft-teams-3-everything-you-need-connect-teammates-be-more-productive/
[ii] Gartner®, Magic Quadrant™ for Data Center Backup and Recovery Solutions, Santhosh Rao, Nik Simpson, Michael Hoeck 20 July 2020. Previous titled include Magic Quadrant™ for Data Center Backup and Recovery Software.
[iii] Source: IDC, Semi-Annual Software Tracker, 2020H1; Note: Worldwide Data