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Veeam: Data Protection Customer Bookings Remain Strong

Veeam Channel Chief Kevin Rooney

Veeam Co-CEO Peter McKay

Privately held Veeam continues to offer hints and anecdotes about the data protection software company’s rapid growth.

Without quite sharing revenue and profit figures, the company says it has generated 40 consecutive quarters of double-digit bookings growth, as of Q2 2018. Moreover, the company’s march closer to $1 billion in annual revenues continues, Veeam says.

The company continues to add roughly 4,000 new customers per month, and the firm’s total installed base now spans 307,000 customers worldwide.

Veeam has invested heavily in its go-to-market strategies, customer enablement, employees, and processes, according to Peter McKay, Co-CEO and President of Veeam.

“We are pushing further into the enterprise, all while continuing to strengthen our commitment to our core market segments. Our focus on enabling hyper-availability is unwavering, and customers are responding,” he said. “We continue to gain market share from both traditional players and newcomers attempting to catch up to us and attain profitability, a benchmark Veeam achieved and maintained for more than a decade.”

Veeam Strategic Alliance Predictions Come True

Late last year, Channel Chief Kevin Rooney predicted that the company’s enterprise momentum was set to kick into high gear in 2018. Apparently, that prediction came to fruition.

The evidence: Veeam’s Strategic Alliance partnerships are on a triple-digit YoY growth trajectory. Joint opportunities between Veeam and global alliance partners have increased 183 percent for the period. Veeam also doubled the number of deals and the amount of revenue generated from its joint bookings with HP Enterprise, NetApp and Cisco Systems.

The company’s new subscription products are reaping rewards as well. For instance, subscription sales for Veeam Backup for Microsoft Office 365 increased 1,249 percent YoY.

Cloud continues to be the fastest growing segment of Veeam, reporting 64 percent growth YoY. The Veeam Cloud & Service Provider (VCSP) program now includes close to 20,000 partners.

Veeam is also expanding its headcount of more than 3,600. The firm recently opened a new research and development headquarters in Prague, Czech Republic, where the company says engineers will “work on innovative data management, automation, and Hyper-Availability technologies.” The majority of the 300 new positions will be specialized, high-tech roles and quality assurance positions within Veeam R&D teams.

Data Protection Rivals

Despite Veeam’s momentum in the data protection software market, competition in the sector remains intense. Entrenched rivals like Commvault, StorageCraft and Veritas are taking steps to revitalize their respective partner programs. Upstarts like Druva and Rubrik are attracting cloud customers. And MSP-centric players like Datto have deep hooks in the SMB sector.

Additional insights from Joe Panettieri.

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