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.