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Veeam Touts Growth; On Path to Potential IPO?

Blackboard Business Strategy Concept
Anand Eswaran, CEO, Veeam
Anand Eswaran, CEO, Veeam

Data protection, backup and disaster recovery (BDR) software company Veeam said annual recurring revenue (ARR) grew 27 percent in 2021 vs. 2020. Also, Kasten by Veeam reported a 900% year-over-year (YoY) increase in bookings for 2021 vs. 2020.

Still, neither Veeam nor Kasten announce actual revenue dollar figures or EBITDA figures -- so it's difficult for ChannelE2E to put each company's financial performance into proper context.

Veeam, led by new CEO Anand Eswaran, appears to be marching toward a potential IPO. Private equity firm Insight Partners has owned Veeam since March 2020. Among the next moves to watch: The VeeamOn 2022 conference is scheduled for May 16-18 in Las Vegas.

Cloud Backup for MSPs: Crowded Market

Meanwhile, competition in the BDR and cloud backup market remains intense. Numerous technology companies are blending security and data protection products, while emphasizing MSP-centric sales models into the SMB (small and midsize business) market.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.