Providing Modern Data Protection in the Face of the Pandemic
IT departments worldwide faced a raft of new challenges during the pandemic, as industries sent entire workforces home to work remotely for what was, at the time, an indefinite amount of time. Companies faced the responsibility of maintaining the security of their private data systems beyond the centralized, easily controlled corporate setup, and had to worry about meeting GDPR and other data privacy requirements and maintaining enterprise-grade data protection and security from this new remote world. In addition, IT professionals struggled with rapid and unplanned scaling-up of infrastructure. Yet, for some that sought out the assistance of data protection innovators like Veeam, their transition into this temporary pandemic life was a smooth one. In fact, digital transformation accelerated faster than ever during the pandemic. Veeam offered businesses a simple, flexible, reliable, and powerful modern data protection platform tailored to be powerful and flexible enough to fit their uniquely changing needs amid the chaos of the pandemic. For this, Veeam has delivered tremendous customer value.
Veeam Continues Surpassing Milestones
Veeam saw over $1.1 billion in revenue in 2020, a significant milestone for the modern data protection company. This was the second year Veeam had done so, having conquered the billion-dollar mark for the first time in 2019. This skyrocketing annual recurring revenue (ARR) growth is a phenomenal achievement and a true testament to the strategy and the development laid out by its US-based leadership team.
While answering the call of businesses who faced unprecedented challenges, and supplying them with simple, yet modern data protection solutions, Veeam has been putting up double-digit year-over-year growth for a long time now. Moreover, with the launch of Veeam Backup & Replication v11 at the beginning of 2021, the US-owned software giant continually evolves the way their customer can protect their data. Veeam is now trending toward the most productive year in the company’s history in 2021.
Veeam recently announced the company saw another quarter of double-digit growth with an ARR increase of 26% year-over-year (YoY) for Q2 2021. Veeam’s 2021 Q1 increase was a cool 25% increase over their 2020 Q1 business.[SM1] [TW2]
“Now, more than ever, especially as ransomware attacks increase, data is the lifeblood of organizations. The need for Modern Data Protection to achieve operational objectives and business continuity is fueling the demand for Veeam’s industry-leading solutions,” said William H. Largent, Chief Executive Officer (CEO) and Chairman of the Board at Veeam. “Q2’21 isn’t just another quarter of growth for Veeam; as our fourteenth consecutive quarter of double-digit growth, it represents unrivaled results, especially during such an unstable global environment. Veeam is continuing to thrive and grow, and our commitment to deliver simple, flexible, reliable, and powerful data management and protection solutions to our 400,000+ customers is unwavering.”
The company also reflects growth from an employee perspective. This last year provided unique challenges with most businesses scaling down their overall employment numbers in order to stay liquid, yet Veeam did not miss a beat, continuing to hire to fortify their growth and provide for those businesses in need. Veeam not only provided its clients with existing services but also allowed the pandemic year to be one of discovery and product innovation. Much of their earning potential in Q1 and Q2 of 2021 can be attributed to the finalization and rollout of major new products and key innovations around the New Year.
What are some Veeam Highlights from the first half of 2021?
Speaking of new products, Veeam released over 20 new product releases including notable enterprise-grade feature updates over the last 18 months and many major releases in the first half of 2021 – Veeam Backup for Google Cloud Platform and Veeam Backup & Replication v11. Along with the major rollouts boosting Veeam’s gaining momentum, the modern data protection giant is preparing to release key innovations of cloud-native solutions for AWS, Microsoft Azure, Google Cloud, Microsoft Office 365, and the first integration of Kasten K10 for Kubernetes into the Veeam Platform in the second half of 2021.
Noteworthy Highlights for VEEAM through Q2 of 2021:
- Released the most advanced data protection solution for Cloud, Virtual, Physical, SaaS, and Kubernetes workloads, Veeam Backup & Replication v11, and has been downloaded by more than 250,000 users since its launch in Q1. V11 provides robust ransomware protection with increased immutable storage options, policy-driven data lifecycle management, as well as Continuous Data Protection (CDP), moreover decreasing downtime and lowering data loss for all workloads on-site and in the cloud with AWS, Azure and Google.
- Veeam now counts 82% of the Fortune 500 and 69% of the Global 2000 as active clients. New Q2 additions include Staples Solutions, Morehouse School of Medicine, New Belgium Brewing Company, City of New Orleans, Global Data Vault, Ituran, NewCytech, and Shamir Medical Center.
- In the recently released 2021 Magic Quadrant for Enterprise Backup and Recovery Solutions[i], Gartner named Veeam as an Industry Leader for the fifth consecutive time and positioned the company highest overall in its ability to execute two years running.
- Veeam’s technology alliance resell agreements with Hewlett Packard Enterprise (HPE), Cisco, NetApp, and Lenovo announced 27% growth YoY.
- Veeam Backup for Microsoft Office 365 reported 58% growth YoY in Q2’21, with the product receiving 189,000 downloads with 6.6 million users underpaid contracts.
- Veeam Universal License (VUL), the industry’s first transferable license that allows a simple, flexible “per workload” annual subscription license for protecting all workloads across on-premises, hybrid, and multi-cloud environments, accounted for nearly 3/4 of new core transactions in Q2 with 62% growth YoY.
- Veeam continually releases new features and enhancements perfect for enterprise settings. This has resulted in +195% bookings growth YoY in deals above $1 million USD.
- Veeam closed the largest cloud-native AWS backup deal in its history in Q2’21, as the growth of cloud-native backup solutions (AWS, Microsoft Azure, Google Cloud) quickens.
- In June, Veeam launched its new, federal government-focused subsidiary, Veeam Government Solutions, Inc. (VGS). The company is headquartered out of Washington D.C. and 100% US-owned and managed, VGS brings a comprehensive portfolio of trusted data protection software solutions that are individually verified and validated by US federal government-trusted, US-based third-party agencies.
Veeam’s 2021 has already proven a fascinating year for the global data protection leader and can only continue to get more interesting for Veeam as cloud-native strategies continue to gain popularity among businesses across the globe every single day.