Monday, October 23, 2017

Veeam scores $607m in revenues, hybrid cloud economy drives business

Company continues its journey towards $1bn revenues by 2018 by adding 50,000 customers in 2016, topping 230,000.

Backup and disaster recovery provider Veeam has announced record revenues for the full year of 2016 in the excess of $607.4m.

The company had a year-on-year (YoY) growth of 28% between 2015 and 2016 mostly due to enterprise and cloud revenues.

Veeam’s co-founder and former CEO Ratmir Timashev has throughout the years spoken of the ambition of making the company a $1bn business by 2018.

Veeam’s co-founder and former CEO Ratmir Timashev

With results for 2016 now revealed, the company seems to be following Timashev’s time scale.

Veeam has increased its customer base in the excess of 50,000 total paid customers in 2016, topping 230,000 customers worldwide.

The provider says it services 73% of the Fortune 500 and 56% of the Global 2000 companies.

Enterprise new license bookings grew 57% annually, while the number of new enterprise customers grew 48.6% to 761 over the same period.

Veeam Availability solutions run now on 13.3 million virtual machines (VMs), including more than 1 million VMs under VCSP management.

The Veeam Cloud & Service Provider (VCSP) program, which provides service providers with Disaster Recover as a Service (DRaaS) and Backup as a Service (BaaS) capabilities, reported 79% YoY revenue growth for FY 2016.

The VCSP program has expanded to more than 14,300 service and cloud providers worldwide, with more than 2,600 of those partners licensed to provide services for Veeam Cloud Connect.

Veeam’s product highlights for 2016 include the announcement of the next generation of Availability, Veeam Availability Platform for Hybrid Cloud. The platform provides Availability for the Hybrid Cloud with virtual, physical, and cloud-based workloads.

The company also released Veeam Availability Suite 9.5, with more than 175 new features designed to deliver enhanced agility and flexibility by ensuring 24.7.365 availability of all workloads and applications on-premises or in the cloud.

In addition, Veeam launched Veeam Backup for Microsoft Office 365, Veeam Endpoint Backup FREE 1.5, and joined HPE’s Complete program.

Peter McKay, Veeam’s president and COO, said: “As organisations work to digitally transform every aspect of their business, CIOs are quickly coming to realise that these IT investments will not be worth much if they cannot guarantee that they will be ’Always-On’.

“We have seen incredible growth in demand for the Veeam Availability Suite from all sectors of the market, but especially from the Fortune 500 and Global 2000.”

Veeam is hosting its main event, VeeamOn 2017, in May, in New Orleans, US, where the company is expected to make announcements around new products and expand on the company’s roadmap towards the $1bn revenues.