Veeam Achieves Market-Leading Revenue Growth in 2H 2017

Peter McKay,
Co-CEO and President

@PeterCMcKay

Published date: July 26, 2018

Veeam, born early in the era of the cloud, has created a story of unprecedented success. The story tells of rapid growth, accelerating quarter after quarter, year after year, driven by innovation, product quality, and customer loyalty. 2017 was our best year yet, and this year we continue to grow with tremendous wind in our sails:
  • We’ve achieved 40 straight quarters of double-digit growth — 10 years of extraordinarily strong momentum.
  • Total bookings growth increased throughout 2017, with double-digit growth in every quarter.
Recently IDC published its software market results for 2017*, and once again, Veeam leads the pack in the data protection and recovery software market. Veeam's revenue grew 28.7% year over year in the second half of 2017, 26.6 points faster than the overall DP&R software market. IDC shows that in the last half of 2017, while the overall market grew just over 2%, the top three vendors each failed to achieve even this small amount of growth while Veeam grew its revenue 26 points faster than the market as a whole. With this growth and success comes a sense of responsibility on our part to help customers see the future and prepare for the change and transformation that is coming.

Company Momentum - Top 5 by Company Performance: 2017H2 (Vendor Revenue, US Dollar, M)

The question I receive more than any other, is how is it possible for Veeam to continue to generate such growth and success? Especially when one considers we reside in an industry that has a large legacy vendor presence with established, mature products. The answer is multi-faceted, but focuses on three key ingredients:
  1. Built for the Virtual World – Veeam was founded in 2006 to provide systems management solutions for virtualized infrastructures. Veeam quickly became synonymous with data Availability, emerging as the go-to provider for solutions supporting applications and data in cloud-spanning environments. Born in the era of the cloud and built in the era of the cloud.
  2. Partner First Philosophy – In today’s world of rapidly evolving technologies, no company is able to go it alone. Success comes from building and participating in robust technology eco-systems. It is our primary focus to approach every challenge with partnerships, from working with thousands of channel partners, to building deep integration and collaboration with the largest technology vendors in our space.
  3. It Just Works – Veeam has earned a reputation in every sector of the market, including SMB, commercial and enterprise, as a product that delivers on its promises. A product that can be trusted to maintain business continuity in the face of any challenge or disaster. That’s why when customers talk about the reliability of Veeam, they say, “It Just Works.”
Receiving third party validation from IDC helps us continue to tell our story. This isn’t just what we say, but what hundreds of thousands of our customers are saying around the world. In addition, our Net Promoter Score of 73, a number generated by asking companies if they would recommend a technology they have purchased, is 3.5x better than the industry average. When an IT manager chooses an Availability vendor to be there for backup and recovery, they aren’t just choosing a technology. They are betting the future of their company and their own career on that choice. We understand the importance of this decision and take pride in earning that trust. Legacy vendors are struggling to adapt and change in the new environment. Their solutions, built during an era of tape and disk, have failed to keep up with the new demands of data growth and data sprawl. Without the ability to adapt, their customers find themselves vulnerable and looking for a change. Our vision is to be the most trusted provider of Intelligent Data Management solutions, exceeding the expectations of a world that demands the Hyper-Availability of data. And our aim for the future is to expand on this vision to ultimately enable data to become self-managing. Veeam is in the perfect position to deliver on these promises of innovation and to radically improve how data is managed.   * IDC Worldwide Semiannual Software Tracker, Data Protection and Recovery Software Market, Final Historical 2017H2. Show more articles from this author

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