Veeam provides data resilience and recovery software covering 150 different workloads, spanning SaaS to AI. Its customers include large corporations such as Shell and Deloitte as well as federal and local governments like the City of New Orleans. The company reported $1.7 billion in annual recurring revenue as of the end of September and is growing 18% year over year. Veeam plans to use proceeds from its recent secondary sale to expand research and development and pursue acquisitions as opportunities arise. CEO Anand Eswaran said the raise was intended to provide liquidity for early investors and employees and to bring on strategic, blue-chip investors ahead of an eventual IPO, though no timeline has been set. Founded in 2006 and based in Seattle, Veeam said it holds the No. 1 market share while operating in a more crowded market with competitors like Rubrik, Cohesity and Druva. Veeam is the global leader in Backup solutions that enable Intelligent Data Management, delivered via the Veeam Availability Platform. The company reports approximately $1 billion in sales and serves more than 325,000 customers, adding about 50,000 new customers annually. Its global ecosystem includes roughly 60,000 channel partners, exclusive reseller relationships with Cisco, HPE, Lenovo and NetApp, and more than 21,000 cloud and service providers. Veeam states that 82% of the Fortune 500 and 66% of the Global 2000 rely on its solutions and that its customer satisfaction scores are 3.5X the industry average. Headquartered in Baar, Switzerland, with offices in more than 30 countries, Veeam plans to accelerate expansion through both organic growth and M&A activity. The company intends to leverage strategic partners and capital to drive portfolio innovation, geographic expansion, and adjacent-market entry. Veeam Software builds backup, replication and virtualization management solutions for VMware vSphere and Microsoft Hyper-V, led by its flagship Veeam Backup & Replication and supplemented by Veeam Backup Management Suite, Veeam ONE and Veeam Management Pack. The company announced Veeam Backup & Replication v7 coming later that summer with built‑in WAN acceleration, backup from storage snapshots and numerous additional enhancements. Veeam reported a record Q2 2013 with total bookings revenue up 100% year‑over‑year, new license bookings up 96%, and 299% growth in its Hyper‑V business. Operational metrics in Q2 2013 included adding over 9,300 new customers for a total of more than 73,000 paid customers and a global ProPartner base exceeding 19,000. The Veeam Cloud Provider program expanded to over 3,000 participants with monthly VM rental available in more than 70 countries. Veeam was founded in 2006, is privately owned, headquartered in Baar, Switzerland, and has been profitable since 2009.

Total raised

$500M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2019