Veeam posts double-digit growth in Q3 2019

Veeam Software, a company that provides backup solutions for Cloud Data Management, has announced results from Q3 2019. In an aggressive market that is seeing both legacy and newcomers falter, Veeam has reported another quarter of double-digit growth with an annual recurring revenue increase of 24% year-over-year and huge uptake in its new Veeam Universal License, VUL, subscription pricing model which saw a 108% rise in bookings for the same period. Veeam also reported that in its annual customer satisfaction survey it scored a Net Promoter Score of 75; this score sees Veeam exceeding the market average, and is the sixth consecutive year the company has achieved this result.

Highlights

• Veeam’s Enterprise business grew 20% YoY, with the company counting 81% of the Fortune 500 and 66% of the Global 2000 as customers, such as include ABM, United Healthcare, Carmax and Micron.  With more than 365,000 customers worldwide, new Veeam customers include Reynolds, Bahrain Credit, British Columbia Forest Practices Board, LCR Group, Azzurri Group, KPN, Vancouver Canucks, and Sydney Living Museums.
• Veeam Backup for Microsoft Office 365, reported 113% growth YoY. Veeam Backup for Microsoft Office 365 has now been downloaded by more than 84,000 organisations, representing over 9 million user mailboxes.
• The Veeam Cloud and Service Provider VCSP program has more than 24,500 partners with over 4,000 of those also qualified to provide Cloud Backup and DRaaS using Veeam Cloud Connect.
• Veeam technology alliance resell agreements with Hewlett Packard Enterprise, Cisco, NetApp, and Lenovo reported 92% YoY growth, and a 28% quarter over quarter increase.
• For the fourth consecutive year, Veeam was named to the Forbes 2019 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.

“2019 has been a massive year for Veeam; not only have we surpassed $1B in annual bookings, we are also innovating the customer experience through new VUL subscription models and continued new product releases,” says Ratmir Timashev, Co-Founder and Executive Vice President of Sales and Marketing at Veeam. “In our last fiscal quarter, we saw tremendous growth across all markets, particularly our subscription business, taking our customer count to more than 365,000. As we enter Q4 2019, we will be announcing a number of new solutions that will continue our market leadership, and as we have shown with our NPS score, we are exceeding customer satisfaction at every point.”

Says Andrew Smith, Research Manager in IDC’s Infrastructure Platforms and Technologies group, “Over the past several years, Veeam has solidified itself as a leading provider of backup and recovery solutions for virtual, physical and cloud environments. Veeam’s partner-centric strategy and ability to adapt to the market with a focused approach have been cornerstones of its ongoing success, and have enabled Veeam to deliver consistent, double-digit revenue growth in a mature market segment that typically experiences low single–digit growth.”