Veeam closes record 2021 with 27% growth
Veeam Software, backup, recovery and data management solutions that deliver Modern Data Protection, announced another quarter of double-digit growth with an annual recurring revenue (ARR) increase of 27% year-over-year (YoY), signifying 2021 as the company’s most successful year on record. Not only was revenue record-breaking, but Veeam closed 2021 as the #2 data protection vendor worldwide, ranked as a Leader for the fifth consecutive time in the 2021 Magic Quadrant for Enterprise Backup and Recovery Solutions, saw its Microsoft Office 365 business grow faster than expected with 73% YoY growth and achieved over 36% YoY growth of Veeam Availability Suite.
“IDC expects the total Data Protection as a Service (DPaaS) market to reach $18.4 billion in spending by 2025,” said Anand Eswaran, CEO at Veeam. “Given the current global landscape and the fact that businesses now have more data than ever to protect — from ransomware and cyberattacks, compliance and new regulations, and the complexities of remote working environments — I believe that the market opportunity is even larger than what is being predicted. Veeam is outpacing the overall market maturation, growing at a much more rapid rate, and is firmly at the epicenter of the data ecosystem. This is a testament to our employees and company culture, the pace of development and innovation, and our collaboration with partners to deliver solutions that exceed customer expectations and build trust.”
“2021 has been an incredible year for Veeam, its business and industry leadership. Having the EMEA region closing 2021 with 28% double-digit ARR growth year-on-year is a phenomenal achievement. I couldn´t be prouder of the EMEA team that went above and beyond supporting customers while developing even closer relationships with our remarkable and much valued ProPartner Network,” said Daniel Fried, General Manager (GM) and Senior Vice President (SVP) of EMEA and Worldwide Channels at Veeam. “In 2022, we´ll continue accelerating our growth trajectory with incremental focus on the enterprise segment while ensuring a smooth transition for all customers from perpetual licenses to subscription, offering on-premises solutions or Veeam-powered cloud services.”