Veeam Software has announced results from Q1’2019, including the obvious impact from the January launch of Veeam Availability Suite 9.5 Update 4. This is one of the largest and most anticipated product releases in the history of the company, which is now one of the largest private software companies in the world.
Veeam reported a 16 percent increase in total bookings year-over-year (YoY), celebrating more than 343,000 customers, staying consistent with an average of 4,000 new customers each month. Veeam’s Annual Recurring Revenue (ARR) increased 30 percent YoY, a testament to the success of a new unique subscription pricing model for all new Veeam products, including new Veeam Availability Suite 9.5 Update 4. Released to the public at the beginning of Q1, it has more than 200,000 downloads to date.
The company is continuing to experience rapid growth in the Middle East with a 24% increase in total bookings year-over-year (YoY) and a 50% increase in Veeam Cloud & Service Provider (VCSP) transactions. Commenting on the Q1 results, Claude Schuck, regional head, Middle East says, “Most of our regional growth is coming from the UAE where digital transformation is high on the agenda of both the public and private sector, with companies looking to become more agile and competitive. Digitizing and modernizing businesses leads to dependency on data which becomes the new asset. This needs to be protected and enterprises in the region are looking to Veeam to help them manage and protect their data intelligently. We also see momentum in our cloud business as a result of the big public cloud providers Azure and AWS coming to the region encouraging the customer to embrace the cloud.”
“In my first full quarterback at Veeam leading sales and marketing, we focused on core priorities that brought us clear success, and that will continue to fuel our growth and validate our leadership position throughout the year,” said Ratmir Timashev, Co-Founder and Executive Vice President (EVP) of Sales & Marketing. “We are now focused on an aggressive strategy to help businesses transition to cloud with best-in-class Backup and Cloud Data Management solutions. IDC has forecast that 90 percent of organizations will embrace a multi-cloud strategy within three years, which provides us a significant growth opportunity to leverage the shift our customers and partners are making and ensuring we support them in every aspect – with the very best products and solutions. This strategy has also fueled our new Veeam Instance Licensing (VIL) model, which was created to provide flexibility to move workloads from on-prem to public cloud and back without an additional cost. Veeam is the first in the industry to offer this portable, game-changing license approach for managing multi-cloud environments.”