February 13th, 2019 by Adam Armstrong
Veeam Announces FY 2018 Results
Today Veeam Software announced record results for its fiscal year 2018. The company is claiming $963 milling in total bookings, up 16% year-over-year. Veeam also stated that it has added roughly 4,000 new customers per month over the last year.
Veeam is still a private company so we can’t get into the nuts and bolts of its earnings and cash. The company did have a massive, half a billion funding round last month. At the time we stated it was odd for a company as large as Veeam to go looking for cash. But with investors looking to sink $500 million in them, they must be doing something right. As stated above, Veeam saw an increase of total booking of 16% YoY, marking its twelfth consecutive year of organic double-digit bookings growth. And they added 48,000 new customers in 2018.
Aside from that they had a few other highlights throughout the year including:
- Veeam announced RTM for new cloud data management capabilities as part of Veeam Availability Suite 9.5 Update 4, followed by recent general availability.
- Veeam for Windows and Linux physical servers and workstations (Veeam Agents) and Veeam Backup for Microsoft Office 365 were the fastest growing products in Veeam’s history with 129% and 549% YoY respectively. Veeam Backup for Microsoft Office 365 has now been downloaded by more than 55,000 organizations, representing over 7 million user mailboxes.
- The Veeam Cloud & Service Provider (VCSP) segment grew 23% YoY, now with 21,700 Cloud Service Providers, 3,800 licensed to provide Cloud Backup & DRaaS using Veeam Cloud Connect.
- Cloud has been the fastest growing segment of Veeam’s business for the past 8 quarters. Veeam reported 46% YoY growth in its overall cloud business for 2018.
- N2WS, a Veeam company and a leading provider of cloud-native backup and disaster recovery for Amazon Web Services (AWS), grew annual recurring revenue (ARR) by 83% YoY.
- Veeam is now generating 1.9 million hours of Microsoft Azure consumption every month.
- As the most impactful and profitable Veeam alliance in 2018, Hewlett-Packard Enterprise (HPE) achieved the highest magnitude of revenue growth YoY for joint closed deals in 2018, supported with a move to a Global Supply Chain agreement increasing, the resell capabilities for resellers and customers. Mutual investments by both HPE and Veeam are expected to fuel continued commitment and accelerated pipeline growth in 2019.
- Through participation in Cisco Solutions Plus program, Veeam and Cisco deals grew 967% YoY. Veeam expanded its collaboration with Cisco to deliver Veeam Availability on Cisco HyperFlex– a new, highly resilient data management platform that provides seamless scalability, ease of management, and support for multi-cloud environments through Cisco support services.
- Veeam expanded the success of the NetApp alliance from product integration to a full resell agreement that includes NetApp Data Fabric solutions. Veeam launched its Global Resell agreement with NetApp in Q1 2018 and followed that by enabling NetApp customers to purchase joint NetApp ONTAP and Veeam Availability solutions from joint resell partners around the globe.
- Veeam expanded and strengthened its partnership with Nutanix by launching Veeam Availability for Nutanix AHV in July 2018. After just 2 quarters of this product being available, downloads have increased 500%.
- Veeam announced a new global partnership with Lenovo to offer customers integrated solutions combining high-performance storage with trusted data protection which is sold directly from Lenovo and its resellers in a single transaction.