Veeam unveils upsurge in annual growth and market share gains
The company says it is experiencing success in the market adoption of its subscription offerings, including Veeam Universal License reporting a 97% YoY increase in bookings.
Veeam Software has announced an annual recurring revenue increase of 21% year-over-year for Q1 2020.
In the most recent IDC Semi-Annual Software Tracker for Data Replication & Protection in the second half of 2019, Veeam revealed it had the fastest revenue growth, both sequentially (9.8%) and YoY (20.5%) in 2H’19.
“Veeam has historically led the market with innovation and ease of use, and we are already extending that into 2020 with the largest and most successful release in the history of the company, additional new product releases, company growth and hiring momentum,” said Bill Largent, Chief Executive Officer (CEO) at Veeam.
“However, the first few months of the year have been unusual to say the least for all of us. We are having to conduct business in a different way, ensuring that the Veeam community – employees, partners and customers – stay safe during this period.
“I’m very proud of our 4,300 employees as we have continued to grow during this challenging time while not missing a beat on customer support.
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“This not only validates the need for business continuity and data protection, but also validates strong demand for Veeam’s market-leading solution.”
Veeam recently launched a solution for complete data management and protection for hybrid-cloud environments – Veeam Availability Suite v10, and have seen unique downloads exceed 175,000 in two months.
“In addition to v10, Veeam Backup for Amazon Web Services (AWS), Veeam Backup for Microsoft Azure, and Veeam Backup for Microsoft Office 365 will definitely continue to fuel our growth,” said Danny Allan, Chief Technology Officer (CTO) and Senior Vice President (SVP) of Product Strategy at Veeam.
“I could not be more excited or confident in our current position to continue to gain market share and strengthen our enterprise footprint with additional product launches.
“Our recent distinctions from top industry analysts are further driving this market-leading momentum within the Cloud Data Management space.”
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