Enterprise DRaaS, Cloud Backup Revenues Fuel Veeam’s Q1 Growth
Veeam is off to a good start this year. The backup and disaster recovery company, known for its VMware vSphere and Microsoft Hyper-V virtualization customers, announced strong gains in the first quarter, fueled by growth in its enterprise and cloud revenues.
The milestones included:
- 33 percent growth in total bookings revenue year-over-year;
- 17 percent annual growth in new license bookings for its enterprise solutions;
- 59 percent year-over-year hike in cloud revenue; and
- 12,000 new paid customers, bringing worldwide customers to 242,000.
The company, which specializes in disaster recovery-as-a-service (DRaaS) and backup-as-a-service (BaaS), has announced record results every year since 2013. However, Veeam — as a privately held company — does not disclose actual profits or revenue figures.
Veeam shared the milestones roughly one month before VeeamON Conference 2017, the company’s annual customer and partner gathering. Kevin Rooney, VP of channel sales, is expected to share partner program milestones and some potential next moves at the gathering.
Veeam has traditionally focused on the small and midsize business (SMB) market but has been pushing into the enterprise market in recent years.
Rooney has carefully segmented Veeam’s partner program efforts to address each of those target markets. He also has worked hard to ensure Veeam doesn’t alienate SMB partners amid the company’s enterprise march. So far the results look promising: The company says it now counts 74 percent of the Fortune 500 and 56 percent of the Global 2000 as customers.
Rooney isn’t working in a vacuum. The team has grown to include Cleversafe veteran Jeff Giannetti, who signed on as Veeam’s VP of North American Sales.
Partnering and Competing
The Switzerland-based company recently joined the Hewlett Packard Enterprise (HPE) Complete program, making HPE and Veeam solutions available to resellers as a package. There were reports in March that HPE was looking to buy Veeam. But the rumor was quickly put to rest by Veeam’s COO.
Although Veeam has momentum, the company also faces intense competition. Key rivals include Carbonite, Datto and StorageCraft (among others), each of which have strong momentum with VARs and MSPs, and they’re each striving to accelerate midmarket deals.
Additional insights from Joe Panettieri.