Veeam Software announced another quarter of double-digit growth with an annual recurring revenue (ARR) increase of 21 percent year-over-year (YoY) for Q3'20. Now with 400,000+ customers worldwide, Veeam is fueling its growth by continuing to take share in the core datacenter backup and recovery market while also embracing new solutions to support organizations' cloud data protection needs. Veeam's fastest growing product, Veeam Backup for Microsoft Office 365, continues incredibly strong growth with 85 percent YoY product growth. Further proof of Veeam's growth trajectory was displayed in the most recent IDC Semi-Annual Software Tracker for Data Replication & Protection 1H'20 which showed Veeam delivering the fastest revenue growth year-over-year in 1H'20, among the top 5 vendors, other vendors, and overall market average.

"We understand that, besides people, data is the most important asset for businesses, and empowering our customers to protect it is our mission," said Bill Largent, CEO at Veeam. "Cloud, Cyber Security and Modern Data Protection are the three pillars that form the foundation driving Digital Transformation (DX) and enable organizations to unleash the power of their data to deliver a rich customer experience. Veeam continues to innovate and stay one step ahead - whether it's cloud or Kubernetes. Our latest acquisition of Kasten is a testament to that. Our last quarter was very strong, and we're looking forward to a great finish in 2020 as we continue to announce new solutions that will continue to meet the needs of our customers."

With the acquisition of Kasten, the market leader for Kubernetes Backup and Disaster Recovery, Veeam is working to integrate Kasten into its market-leading Cloud Data Management platform for modern data protection and radically simplify data management for enterprises. With Kasten's K10 Data Management Platform, Veeam is now able to offer enterprise operations teams an easy-to-use, scalable, and secure system for Kubernetes Backup and application mobility with unparalleled operational simplicity.

Veeam recognizes the strategic importance of supporting this environment for our customers, the increasing importance of providing modern data management that is deeply integrated into Kubernetes, and the growth of DevOps to improve quality, increase scalability, and accelerate application delivery while reducing daily management.

"We are in a strong leadership position for virtualized and cloud environments," said Largent. "And, as we move into our ‘Act II,' a focus on cloud and containers, I am excited about the future and what we are bringing to our customers and partners to continue to help them protect and reuse their data to gain competitive advantage. Veeam will continue to strengthen an already powerful team with new talent and continued employee promotion from within."

Additional Highlights of Q3'20:

• Veeam technology alliance resell agreements with Cisco, Hewlett Packard Enterprise (HPE), NetApp, and Lenovo reported 17 percent YoY growth, and a 20 percent quarter over quarter (QoQ) increase in number of deals closed.
  
• Over half a million customers have downloaded Veeam Backup and Replication v10 since the general release in February. With more than 150 new features and enhancements, including modern NAS support, Multi-VM Instant Recovery and heightened ransomware protection, v10 includes data protection capabilities that increase availability, portability, and extensibility for Cloud Data Management.
  
• For the fifth consecutive year, Veeam was named to the Forbes Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.
  
• Veeam has reached 400,000 customers worldwide, including 83 percent of the Fortune Global 500 and 69 percent of the Forbes Global 2000.