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Veeam Announced Q3 2017 Results - Achieves 37th Quarter of Record Bookings Growth

Veeam Software, the Availability for the Always-On Enterprise innovator, today announced it has reached another company milestone: surpassing 16,700 service provider partners in response to the high demand for Veeam-powered cloud offerings for data availability, protection and management. Building on its 10 years of leadership in providing always-on availability for virtual workloads, Veeam has expanded its capabilities to physical environments as well as multi-cloud support for Microsoft Azure and Azure Stack, Amazon Web Services, IBM Cloud, and support for SaaS applications including NEW Veeam Backup for Microsoft Office 365 version 1.5. As the demand for uninterrupted digital experiences continue, Veeam experiences steadfast momentum.

"Customers are adopting our multi-cloud solutions at record pace. It took six years for Veeam to clear $50 million in bookings for our cloud business. Today, we now report $54 million in three quarters," said Peter McKay, Co-CEO and President of Veeam. "This quarter, we surpassed the bookings in our cloud business, exceeding what we did in that business in all of 2016. With an increase of 72 percent year-over-year Cloud bookings for Q3 and more than 1 million VMs now protected with Veeam-powered cloud services from our Veeam Cloud & Service Provider partners, our momentum is clear - Veeam has now expanded its leadership position as the No. 1 Availability provider for any app, any data, on any cloud. As we persist on our high trajectory of growth and gain marketshare from legacy vendors, our commitment to partners and alliances is enabling us to scale to meet our goal of $1.5 billion in bookings revenue by 2020."

In today's digital economy, organizations are embracing a multi-cloud strategy to drive increased innovation, speed time to market, and optimize cost. But as workloads expand, and user expectations for Availability increase, many organizations are left vulnerable. Veeam's momentum in the space is testament to the company's vision and its ability to protect the most critical workloads across any cloud.

To continue to satisfy the needs of service provider partners, meet the needs of their customer's environments, and differentiate themselves from the competition, Veeam has expanded its product portfolio to provide an even greater range of cloud offerings. The NEW Veeam Backup for Microsoft Office 365 version 1.5 adds new scalability and multi-tenancy support for enterprise deployments and service providers offering managed Office 365 backup services. Launched on October 3, Version 1.5 already has more than 22,000 organizations using this product since the initial release, delivering data protection for over 2 million Office 365 mailboxes.

Veeam is offering free licensing of new products to partners in the Veeam Cloud & Service Provider (VCSP) program through the end of the year. Veeam is also offering Veeam Availability Console as a free product for VCSP partners, further delivering on its commitment to leverage service providers as a way to meet the demand for Availability in the cloud.

Additional Veeam Highlights from Q3 2017

  • Q3 2017 marked Veeam's 37th straight quarter of double-digit growth and major market share gains from legacy backup providers. Veeam reports 34 percent year-over-year (YoY) total bookings growth.
  • Veeam has closed more +$500K deals in 2017 than in the past four years combined. Veeam also closed its largest enterprise deal in company history in Q3 2017, out pacing its previous largest deal which was secured in Q2. New customers highlighted in Q3 include Nuance Communications, a leading provider of voice and language solutions for businesses and consumers around the world; a services provider for 41,000 tax accountants and attorneys in Germany; one of the world's leading suppliers of high-grade flat steel; a German IT banking service provider with 6,400 employees; SingleHop, one of the industry's fastest growing providers of hosted private cloud and on-demand servers; Industrial Scientific, a leading global provider of portable gas detectors and gas detection as a service; and, one of the largest global leaders in the development, production and distribution of entertainment content across broadcast, cable and on-demand platforms.
  • With 267,500 customers, Veeam continues to average 4,000 new customers each month. More than 15.3 million VMs are now protected with Veeam Availability solutions.
  • Veeam's ecosystem experienced a surge in enterprise solution partner additions; newest announcements are integrations with Pure Storage, Nutanix, Starwind and N2WS. Veeam launched globally its support for IBM Cloud. Additionally, Veeam was added to the global price list for both Cisco and NetApp.
  • Veeam continued to add to its leadership team with several key new hires from major industry heavy-weights, including Kate Hutchison, CMO; Carey Stanton, Vice President of Global Business and Corporate Development; Shaun McLagan, Senior Vice President, APJ; Mark Adams, Regional Vice President of UK & Ireland; Jimmy Shi, Country Director for China.
  • Recognitions: Gartner positioned Veeam within the Leaders quadrant in the July 2017 Magic Quadrant for Data Center Backup and Recovery Solutions for the second consecutive year. The company improved on its Completeness of Vision and Ability to Execute in the Leaders quadrant and ranked 4th as the largest 2016 global Backup and Recovery Software vendor for Storage Management, behind Veritas, IBM, and Dell. For the second year running, Veeam has been named on the Forbes 2017 Cloud 100 list, the definitive list of the top 100 private cloud companies in the world, published by Forbes in collaboration with Bessemer Venture Partners.

"Veeam continues to outperform the overall market. Its vision for availability across any app, any data, and on any cloud, positions the company for continued growth backed by its well-known reputation for stellar execution in the market to quickly address customer needs for data Availability." - Laura DuBois, Group Vice President for IDC's Cloud IaaS, computing platforms, storage, and system infrastructure software research

"Veeam continues to prove its commitment to partnering with us. As we continue to grow our business, and provide reliable and cost-effective cloud services, Veeam has found new ways to help us build solutions for the modern enterprises we work with. We can't wait to see what they do next!" - William Bell, Vice President of Products at PhoenixNAP, a platinum Veeam Cloud & Service Provider partner

"Thanks to Veeam's strong leadership in the space, SingleHop has experienced over 100 percent year-over-year growth in our managed business continuity offering. We're excited to expand our partnership and commitment to these solutions given the importance our clients place on establishing proper DRaaS and Cloud Backup practices." - Zak Boca, CEO at SingleHop, a platinum Veeam Cloud & Service Provider partner

Published Wednesday, October 25, 2017 9:47 AM by David Marshall
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