Veeam reports double-digit growth in Q3 2019
Announces domination in cloud data management and an annual recurring revenue increase of 24% YoY and huge uptake of the Veeam Universal License (VUL) subscription pricing model
Veeam Software has today announced results from Q3 2019 and is yet again outpacing the market. In an aggressive market that is seeing both legacy and newcomers falter, Veeam has reported another quarter of double-digit growth with an annual recurring revenue (ARR) increase of 24 percent year-over-year (YoY) and huge uptake in its new Veeam Universal License (VUL) subscription pricing model which saw a 108 percent rise in bookings for the same period. Veeam also reported that in its annual customer satisfaction survey it scored a Net Promoter Score (NPS) of 75; this score sees Veeam exceeding the market average, and is the sixth consecutive year the company has achieved this result.
“2019 has been a massive year for Veeam; not only have we surpassed $1B in annual bookings, we are also innovating the customer experience through new Veeam Universal License (VUL) subscription models and continued new product releases,” said Ratmir Timashev, co-founder and executive vice president (EVP) of sales & marketing, Veeam.
“In our last fiscal quarter, we saw tremendous growth across all markets, particularly our subscription business, taking our customer count to more than 365,000. As we enter Q4 2019, we will be announcing a number of new solutions that will continue our market leadership, and as we have shown with our NPS score, we are exceeding customer satisfaction at every point.”
Customer, product and partner highlights:
Veeam’s Enterprise business grew 20 percent YoY, with the company counting 81% of the Fortune 500 and 66% of the Global 2000 as customers, such as include ABM, United Healthcare, Carmax and Micron. With more than 365,000 customers worldwide, new Veeam customers include Reynolds, Bahrain Credit, British Columbia Forest Practices Board, LCR Group, Azzurri Group, KPN, Vancouver Canucks, and Sydney Living Museums.
Veeam Backup for Microsoft Office 365, reported 113 percent growth YoY. Veeam Backup for Microsoft Office 365 has now been downloaded by more than 84,000 organizations, representing over 9 million user mailboxes.
The Veeam Cloud & Service Provider (VCSP) program has more than 24,500 partners with over 4,000 of those also qualified to provide Cloud Backup & DRaaS using Veeam Cloud Connect.
Veeam technology alliance resell agreements with Hewlett Packard Enterprise (HPE), Cisco, NetApp, and Lenovo reported 92 percent YoY growth, and a 28 percent quarter over quarter (QoQ) increase.