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, said a statement from the company.
“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.
“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.”
“The importance of data management has never been more front of mind. The market is looking for reliability and ease of use, and in Q3, APJ demonstrated another quarter of double-digit growth with an annual recurring revenue (ARR) increase of 26 percent year-over-year (YoY). We have also been able to grow market share. According to IDC H12020 Software Tracker, APJ achieved the fastest YoY revenue growth of 15.8%. This is a testament to our commitment to continually innovate in Cloud Data Management and provide exceptional experiences to our customers and partners” said Shaun McLagan, senior vice president, Asia Pacific and Japan at Veeam.