Veeam Software has announced results from Q1’2019, including obvious impact from the January launch of Veeam Availability Suite 9.5 Update 4, one of the largest and most anticipated product releases in the history of the company, which is now one of the largest private software companies in the world.
Veeam reported a 16% increase in total bookings year-over-year (YoY), celebrating more than 343,000 customers, staying consistent with an average of 4,000 new customers each month. Veeam’s Annual Recurring Revenue (ARR) increased 30% YoY, a testament to the success of a new unique subscription pricing model for all new Veeam products, including new Veeam Availability Suite 9.5 Update 4. Released to the public at the beginning of Q1, it has more than 200,000 downloads to date.
The company is continuing to experience rapid growth in the Middle East with a 24% increase in in total bookings year-over-year (YoY) and a 50% increase in Veeam Cloud & Service Provider (VCSP) transactions. Commenting on the Q1 results, Claude Schuck, regional head, Middle East says, “Most of our regional growth is coming from the UAE where digital transformation is high on the agenda of both the public and private sector, with companies looking to become more agile and competitive.
“Digitizing and modernizing businesses leads to dependency on data which becomes the new asset. This needs to be protected and enterprises in the region are looking to Veeam to help them manage and protect their data intelligently. We also see momentum in our cloud business as a result of the big public cloud providers Azure and AWS coming to the region encouraging customer to embrace the cloud.”
“In my first full quarter back at Veeam leading sales and marketing, we focused on core priorities that brought us clear success, and that will continue to fuel our growth and validate our leadership position throughout the year,” said Ratmir Timashev, Co-Founder and Executive Vice President (EVP) of Sales & Marketing.
“We are now focused on an aggressive strategy to help businesses transition to cloud with best-in-class Backup and Cloud Data Management solutions. IDC has forecast that 90% of organizations will embrace a multi-cloud strategy within three years, which provides us a significant growth opportunity to leverage the shift our customers and partners are making, and ensuring we support them in every aspect – with the very best products and solutions.
“This strategy has also fuelled our new Veeam Instance Licensing (VIL) model, which was created to provide flexibility to move workloads from on-prem to public cloud and back without an additional cost. Veeam is the first in the industry to offer this portable, game-changing license approach for managing multi-cloud environments.”
Phil Goodwin, Research Director, IDC said: “Veeam’s commitment to the cloud data protection market parallels what we see as a continued strong, growing and dynamic space. The overall cloud-based data protection as a service market is growing at a 16.2% CAGR, much faster than the 3.4% CAGR for traditional data protection and recovery software. Veeam continues its strong market growth in both segments by continuing to offer new products and services matched to the rapidly evolving cloud and on-premise requirements.”
“Our enterprise continues to grow, and we needed agility and innovation in our IT infrastructure to keep pace. Upon realizing we needed more than just backup, it became apparent that using the Veeam platform with Azure was the way to get our mission critical applications available, while also establishing a reliable DR environment in the cloud. We now have the confidence that our data and applications are protected through Cloud Data Management. And should any event ever occur, we have the direct restore capabilities to ensure our operations don’t miss a beat.” – Tom Morley, Sr. Director of Global Infrastructure and Operations at ABM Industries.