Veeam’s Growth Trajectory Continues

2020 has been a challenging year for everyone so far; our way of life has changed, and we are all focused on adapting to new ways of working and ensuring that friends, family and colleagues stay safe and healthy. As I mentioned in a previous blog, that community comes first and that has never been more important, and as we progress through the year that will become more critical.

However, I wanted to take a moment to reflect on the past year and consider what has been a tremendous period for Veeam. During the last 12 months, Veeam has continued to focus on the customer, executing its vision to be the most trusted provider of backup solutions that deliver Cloud Data Management. It’s not an easy task to continue innovating and delivering success to more than 375K customers, but that’s what we have been doing.  Every single person here — no matter their role — has the customer at the core of their job and based on what the market says we have been doing a very good job.

We recently announced our results for Q1’20, how we increased annual recurring revenue (ARR) by 21% year over year (YoY), and that our unique subscription offering — Veeam Universal License — saw tremendous uptake. I am delighted by these achievements, but what I am particularly excited about is that in the most recent IDC Semi-Annual Software Tracker for Data Replication and Protection (2H’19). Even though this research includes all replication revenue (stand-alone software, replication in storage arrays, etc.) permitting some vendors a greater opportunity to shine, Veeam is still outperforming everyone! Veeam had the fastest growth in 2H2019, both sequentially (9.8%) and YoY (20.5%) in the period, among the top five vendors, and overall market average.

IDC Semi-Annual Software Tracker: Data Replication & Protection

Change in Growth: Top 5 by Company, 2019H2 (Vendor revenue in $USD M)

Why am I excited by this?  Firstly, it’s a truly independent view of Veeam’s growth trajectory, and secondly, it’s testament to the work our entire ecosystem has done over the period — Veeam employees and our partners.  It’s a true sense of achievement for all concerned. According the data from IDC, we were the only vendor to show double-digit growth and some of the market players declined significantly in the period; in fact, our nearest competitor in terms of growth was ‘others’, which is a bucket of a multitude of additional vendors who didn’t register enough growth to warrant stand-alone rankings.

I guess many of our ‘watchers’ are wondering how we achieved this. I put it down to a simple philosophy — the customer comes first.  For more than a decade, Veeam has always put the customer at the heart of our strategy.  We have continued to focus on innovation to deliver solutions that are simple, reliable and flexible, that address key customer concerns, whether it was our first free VMware backup solution or the most recent launch of Veeam Availability Suite v10. We have strived to deliver the most robust data management, data protection and business continuity solutions that enable our customers to evolve their businesses, all the while knowing that their critical data is safe, available and protected whenever they need it.

In addition, we have invested heavily in our ecosystem and procurement models to ensure that we can deliver solutions to customers the way they want them — whether through the channel, a VCSP, an alliance partner or financed through our innovate licensing model.

It’s a simple business philosophy but is one that has helped build a $1B+ company that continues to grow and innovate. Don’t take my word for it, IDC’s numbers don’t lie. The Veeam Team and I are 100% focused on what we deliver for our customers to make them successful and that will remain our commitment to our 375K+ customers. 

Stay safe, stay healthy.

William H. Largent
William H. Largent

CEO and Chairman of the Board

An experienced executive with more than 30 years in operations and leadership roles with growth companies, William Largent was Veeam’s Executive Vice President (EVP), Operations and a board member prior to becoming CEO and Chairman of the Board.

William has been part of Veeam’s growth since 2008, and has more than 30 years of operations and leadership experience in growth companies. Prior to joining Veeam, he was CEO of Applied Innovation, Inc., a public company previously traded on the NASDAQ – National Market System. William also worked with other members of the Veeam executive team at Aelita Software where he was Chief Operating and Financial Officer. Prior to Aelita, William was CFO of Plug Power where he managed the company’s initial public offering with Goldman, Sachs & Co. as lead underwriter, raising more than $150 million in equity. His earlier career includes executive positions with Liebert Corporation, Metatec Corporation, and others. He began his career with Touche Ross & Co., now Deloitte.

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