Veeam Software has announced another quarter of double-digit growth with annual recurring revenue (ARR) increase of 25% year-over-year (YoY) for Q1’21. Veeam kicked off 2021 with its expansion of public cloud support with the general availability of NEW Veeam Backup for Google Cloud Platform — complementing Veeam Backup solutions for AWS and Microsoft Azure. Veeam Backup & Replication™ v11 was also released in Q1’21 with an additional 200 new and powerful backup, cloud, DR, security and automation enhancements. The most advanced data protection solution for Cloud, virtual, SaaS, Kubernetes and physical workloads has already been downloaded by more than 130,000 users.
“The double-digit YoY growth across all geos provides further validation that our solutions are leading the way in the industry and providing customers simple, flexible and reliable data protection that meets their needs and helps them to achieve their business objectives. To see such increases globally is a tremendous achievement in such a challenging environment,” said William H. Largent, Chief Executive Officer (CEO) and Chairman of the Board at Veeam. “Thirteen consecutive quarters of double-digit growth is a testament not only to the importance of business continuity and data protection as companies move to the Cloud, but to the reliability and value that our 400,000+ customers have trusted Veeam to provide over the past decade.”
Additionally, in the most recent IDC Semi-Annual Software Tracker for Data Replication & Protection 2H’20, Veeam had the fastest revenue growth, both sequentially (21.5%) and YoY (17.9%) in 2H’20 among the top five vendors, all other vendors combined and overall market average. In this period, Veeam became the #2 provider worldwide in terms of overall revenue with YoY growth in the second half of 2020 with more than 17.5 percentage points above the market average.
“In addition to the major release of V11, our product roadmap for 2021 will further expand our offerings with the top cloud providers — AWS, Microsoft Azure and Google — and Kubernetes, as we remain agile and integrate new technologies,” said Danny Allan, Chief Technology Officer and Senior Vice President of Product Strategy at Veeam. “Our recent product launches are best-in-class in quality and quantity, and provide our customers with leading-edge data protection and recovery. More and more organizations are accelerating their modern data protection strategies and Veeam is committed to supporting them along the journey.”
”Following the early success of v11 and completing support for all three major public cloud providers, Veeam is celebrating another quarter of double-digit growth with Q1 ’21 resulting in an annual recurring revenue (ARR) of 27 percent year-over-year (YoY) for APJ alone,” said Shiva Pillay, Senior Vice President, Asia Pacific and Japan at Veeam. “Veeam continues to deliver consistent, double-digit revenue growth because of its unmatched scale and market expansion. According to IDC, APJ is growing 3X the market average and in the most recent 2H20 Software Tracker, we also achieved the fastest revenue growth – 9% sequentially from 1H20 to 2H20 and 18.4% year-over-year from 2H19 to 2H20. As the old proverb says, ‘If you want to go fast, go alone. If you want to go far, go together.’ Veeam’s strong collaboration with our partner and alliance ecosystem is the key ingredient for our growth. We had over 2000 transacting partners in Q1 – and we pride ourselves in how we work hand-in-hand to overcome challenges in the digital transformation era. Veeam also welcomed 400,000+ customers globally, including Japanese Racing Association (JRA) as a new advocate for APJ in Q1. As more organizations are accelerating their modern data protection strategies, we will continue to solidify our commitment to being the No. 1 trusted provider that ensures data availability and protection. “
Q1’ 2021 Highlights
● With more than 130,000 unique downloads of Veeam Backup & Replication v11 since general release in February 2021, the product averages more than one download per minute. The new 4-in-1 solution combines backup, replication, storage snapshots and Continuous Data Protection (CDP) to protect each phase of the data life cycle, while handling all the complexities of a multi-cloud environment for AWS, Microsoft Azure and Google Cloud Platform.
● Veeam Backup for Microsoft Office 365, Veeam’s fastest growing product, reported 156% growth YoY in Q1’21. Veeam Backup for Microsoft Office 365 has now been downloaded by more than 175,000 organizations with 5.8M users under paid contract.
● Veeam continues to release new features and enhancements ideal for enterprise environments, which has resulted in +246% growth YoY in large-deal transactions.
● Veeam Universal License (VUL), the industry’s first portable license that enables IT agility and workload mobility for multi and hybrid cloud enterprises, accounted for 88% growth YoY.
● Veeam now counts 82% of the Fortune 500 and 69% of the Global 2000 as customers. New Q1 advocates include PUMA, Evergy, SodaStream, Interquell GmbH, Baloise Group, Golfzon, Coop Danmark, Kinepolis Group, McCarthy Buildings Companies, Inc, Helsingor Municipality, Yerevan Brandy Company, Volkswagen Argentina, NTT Data, Japanese Racing Association, Eastern Ontario Health System and Spanish National Institute of Aerospace Technology (INTA).