April 17th, 2019 by Adam Armstrong
Veeam Announces 1Q19 Results
Today Veeam announced its results for the first quarter of 2019. Being a private company we still don’t get any hard numbers. The company is however reporting double-digit growth for the quarter.
The company reported a 16% increase in total bookings year-over-year (YoY). Veeam has been steadily adding about 4,00 new customers a month, bring the total to over 343,000 customers. Veeam’s Annual Recurring Revenue (ARR) increased 30 percent YoY, which it attributes to the success of a new unique subscription pricing model for all new Veeam products. The company also suggests that the release of Veeam Availability Suite 9.4 Update 4 was partial responsible for its rapid growth this quarter.
Q1’2019 Customer, Product and Partner Highlights:
- Veeam Availability Suite 9.5 Update 4, providing simple, flexible and reliable solutions to help customers migrate to and keep data available in the hybrid cloud regardless of its location, has recorded more than 200,000 downloads in less than 3 months since being generally available in January 2019. New product capabilities allow Veeam to deliver virtual, physical, and cloud data management, for any application, and any data, across any cloud, including:
- Cloud Tier – Unlimited capacity for long-term data retention by using native, cost effective object storage integration;
- Cloud Mobility – Easy migration and recovery to AWS, Azure and Azure Stack;
- New Data Governance Capabilities – Increased security and compliance including GDPR and malware prevention.
- Veeam Backup for Microsoft Office 365, currently the fastest growing product in Veeam history, reported 152% revenue bookings growth YoY. Veeam Backupfor Microsoft Office 365 has now been downloaded by more than 55,000 organizations, representing over 7 million user mailboxes. Veeam recently released version 3 of the product, further solidifying the company’s dominance in the Microsoft Office 365 backup market, providing businesses with 30x faster backup, improved security, and enhanced customer visibility and analytics.
- Cloud continues its growth momentum, with Veeam reporting 31% YoY growth in its overall cloud business for Q1 2019.
- With 343,000 customers worldwide, new Veeam customers include AKKA Technologies, Halton Borough Council, Sonoco Trident, 3Banken, Nova Scotia Liquor, Colorado Regional Health Information Organization (CORHIO),Northeastern Illinois University (NEIU), Clear Concepts, YMRILINK, TBEA Energy India.
- The Veeam Cloud & Service Provider (VCSP) program has grown to 22,500 partners, with 4,000 of those also qualified to provide Cloud Backup & DRaaS using Veeam Cloud Connect.
- Veeam alliance resell agreements with, HPE, Cisco, NetApp and Lenovo reported 56 percent total transaction growth YoY and 39 percent YoY revenue growth, together completing the overall data management story for global alliance reseller partners.
- Veeam received a $500 million investment from Insight Venture Partners andCanada Pension Plan Investment Board (CPPIB) in early January – one of the largest investments in the history of storage software. This is enabling Veeam to pursue an aggressive acquisition and investment strategy of innovative technologies and continue as the dominant leader in the market.
VeeamON 2019 is next month in Miami, Florida and StorageReview will be on site. Registration is still open.