Veeam Software announced another quarter of double-digit growth with an annual recurring revenue (ARR) increase of 28% year-over-year (YoY) for Q3’21. With the fastest revenue growth YoY (25.3%) in the most recent IDC Semi-Annual Software Tracker for Data Replication & Protection 1H’21, Veeam’s momentum is being fueled by more than 20 new product releases and major feature updates this year, and is preparing for two more in Q4: Veeam Backup for Office 365 and Veeam Disaster Recovery Orchestrator v6.
“As businesses struggle to thwart evolving cybersecurity threats and deal with unprecedented global and economic challenges, modern data protection continues to be the golden ticket keeping enterprises secure and driving sustainable business continuity,” said William H. Largent, Chief Executive Officer (CEO) and Chairman of the Board at Veeam. “With the market average YoY growth at just +2.9% for data replication and protection, our 15th consecutive quarter of double-digit growth is proof that Veeam’s solutions continue to meet and exceed customer expectations, helping businesses across the globe meet operational objectives, while protecting against growing ransomware attacks. This year, we’re also excited to celebrate our 15th ‘birthday’ in October, as we continue to lead the market for backup, recovery and data management. It’s been an amazing 15 years; here’s to the next 15…and beyond.”
“Reflecting on what Veeam has achieved during Q3, I couldn’t be prouder of the many milestones the business celebrated across Asia Pacific and Japan (APJ),” said Shiva Pillay, Senior Vice President, APJ at Veeam. “Globally, we achieved double-digit growth for the 15th consecutive quarter and in APJ, Veeam reported an annual recurring revenue (ARR) increase of 30% year-over-year (YoY). The APJ region is proud to have announced the expansion of its partnership with Ingram Micro – following the launch of Veeam on Ingram Micro’s cloud marketplace in ANZ, we’re also now available in Singapore, Malaysia and Hong Kong. This quarter we added some great referenceable customers to the region, including: Parul University in India, Qingdao Huanghai Pharmaceutical in China, Diamond Group in Indonesia, Midosuji Tax Office in Japan, TRC Thailand, Lembaga Lebuhraya Malaysia and Essilor Group in Singapore – spanning across multiple verticals such as education, healthcare, construction, F&B and government. This is a testament to our commitment in providing the best-in-class data protection technologies to businesses across all industries and markets..
These milestones illustrate how Veeam is able to provide certainty in decision making in a time overwhelmed by ambiguity. Veeam supports the continuity of business operations and also helps organizations realize significant growth opportunities that otherwise wouldn’t be possible without technology innovation. Our reputation for doing just this was recognized by Gartner in its 2021 Magic Quadrant for Enterprise Backup and Recovery Software Solutions. In fact, this was the fifth time Veeam was named as a category leader and the second consecutive year Veeam is positioned highest overall. Also in the most recent IDC Semi-Annual Software Tracker for Data Replication & Protection 1H’21, Veeam had the fastest revenue growth YoY of 25.3% globally and 6.9% growth YoY in APJ.”
Q3 2021 Highlights
More than 300,000 users have downloaded Veeam Backup & Replication™ v11 since its launch in Q1. Released as the most advanced data protection solution for cloud, virtual, physical, Software as a Service (SaaS) and Kubernetes workloads, V11 now enables organizations to accelerate cloud adoption by ensuring data is reliably secured, protected and managed from a single console.
Veeam cloud-native data protection reported more than 350% growth YoY in Q3’21. New releases of Veeam Backup for AWS v4, Veeam Backup for Microsoft Azure v3, and Veeam Backup for Google Cloud Platform v2 are now integrated directly into Veeam Backup & Replication v11a.
Veeam Backup for Microsoft Office 365 reported 73% growth YoY in Q3’21. The #1 backup and recovery solution for Office 365 enables users to securely backup to any location, including on premises, in a hyperscale cloud, or with a service provider.
Veeam‘s single platform is resonating with enterprise customers resulting in +268% bookings growth YoY in transactions of more than $1 million.
Veeam Universal License (VUL), the industry’s first portable license that offers a simple, flexible “per workload” subscription for protecting all workloads across on-premises and hybrid/multi-cloud environments, accounted for nearly 3/4 of net new core transactions in Q3, with Veeam’s subscription product offerings reporting 64% growth YoY.
Primary storage product line integrations with Veeam have now increased to 86 with even greater integration support for HPE Alletra 6000, HPE Alletra 9000, HPE XP8, Dell EMC PowerMax and Hitachi Virtual Storage Platform (VSP), furthering the scope of storage integrations and hardware-agnostic options.
In the most recent IDC Semi-Annual Software Tracker for Data Replication & Protection 1H’21, Veeam had the fastest revenue growth YoY (25.3%) among the top five vendors, all other vendors combined, and in overall market average. Veeam’s growth is more than double the nearest competitor, is firmly cemented as the #2 vendor worldwide, and stands tall as #1 provider in both EMEA and LATAM in overall revenue growth and market share.
Veeam now counts 81% of the Fortune 500 and 69% of the Global 2000 as customers. New Q3 advocates include: Aboriginal Peoples TV Network, Ajuntament de Vilafranca del Penedès, Covenco Recovery Services, Diamond Group, Essilor Amera, Fameccanica Group, Fujifilm UK, Lembaga Lebuhraya Malaysia, Liverpool John Moores University, Maintainer Corporation of Iowa, Inc., Mondragon Unibertsitatea, Parul University, Qatar Engineering & Construction Company, Qingdao Huanghai Pharmaceutical Co. Ltd, Swietelsky and TRC Construction Public Company Limited.