Veeam Reports 27% Growth in Q’4, making 2021 the most successful year on record

Veeam® Software, the leader in backup, recovery and data management solutions that deliver Modern Data Protection, today 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 Solutionsii, 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 2025iii,”  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 epicentre 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.”  

"Veeam ended 2021 on the highest of notes with our annual recurring revenue (ARR) hitting over $1 billion globally.  Q4 in APJ reported double-digit growth of 32% year-over-year (YoY), signifying 2021 as the company’s most successful year on record,” said Shiva Pillay, General Manager and Senior Vice President, APJ at Veeam. “We continued to celebrate major business milestones - our global customer base of over 400,000 saw the addition of new references across APJ including Clough Group, Anglicare Southern Queensland and Lindsay Transport. Our alliance partnerships are another driving force behind our business growth and in Japan, we announced our partnership with technology alliance partner Wasabi Technologies to offer Veeam Backup for Microsoft Office 365 to customers. This further strengthens our commitment to the partner community as we deliver more effective solutions to our customers. We also welcomed Anand Eswaran to the Veeam family as CEO. We have great, ambitious plans to take the strong foundation Veeam has as a trusted technology partner in modern data protection to new heights and with a lot of momentum behind us, Anand's appointment couldn't be more opportune to help us grow and scale even further. This illustrates how Veeam's growth story go from strength to strength as we continue to lead the market for backup, recovery and data management. However, we wouldn’t be where we are today without our people  – we celebrated many of our APJ employees who were recognized in industry awards across the region. I am proud  to be part of a team that continues to meet and exceed customer expectations but more humbled and privileged to be  able to work with the best in the business every day." 

"Due to the amazing growth trajectory of Veeam, the company provided laser focus on further enhancing our internal cybersecurity capabilities, with an emphasis on our cyber resiliency and enriching the security-first mindset that our customers have come to expect from us. Our ISO-certified Information Security Management System (ISMS) was enriched with a user-centric security engagement model, proactive threat intelligence and further engagement with the external information security community.” — Gil Vega, CISO, Veeam.

“Customer demand for solutions that provide protection and backup of data regardless of where its hosted, whether core, cloud or edge has been increasing as application deployments also increase. During 2021, Veeam sought to respond to this demand by enhancing its Microsoft Office 365 backup, Veeam Backup & Replication v11 and v11a  products. The company was able to increase its share of the data replication and protection software market in 1H.

2021, taking the top market share position in EMEA and LATAM and number two globally, according to  our 1H21storage software tracker. Veeam is also looking to expand its data protection in SaaS applications with its  upcoming support for SalesForce.com data.” — Phil Goodwin, Research Vice President, IDC. 

2021 Highlights 

• Anand Eswaran was appointed as Veeam’s new CEO and a member of the company’s board of directors.  William (Bill) H. Largent stepped down as CEO to focus on his role as chairman of the board of directors.  Eswaran joined Veeam from a successful tenure at RingCentral, where he was president and Chief  Operating Officer (COO), overseeing exponential growth and customer expansion.  
• Veeam cloud-native data protection reported more than 420% growth YoY. New releases of Veeam Backup  for AWS v4, Veeam Backup for Microsoft Azure v3 and Veeam Backup for Google Cloud v2 are now  integrated directly into Veeam Backup & Replication™ v11a with 100% functionality for Veeam Universal  License (VUL) license holders.