Veeam announces FY 2018 results post investments

Veeam Software has posted results for the fiscal year 2018, fresh off of a $500-million investment from Insight Venture Partners and Canada Pension Plan Investment Board (CPPIB) in early January – one of the largest investments in the history of storage software. Veeam delivered $963 million in total bookings – 16-per cent growth year-over-year (YoY) and its twelfth consecutive year of organic double-digit bookings growth, as it added 48,000 new customers in 2018, an average of 4,000 new customers each month. This strong customer momentum and bookings growth builds on 2017 results outpacing the industry, and validates the growing demand for Veeam Intelligent Data Management solutions in businesses of all sizes across the globe. As a testimony to growth in the SAARC region, the licence and upgrade bookings grew at 30 per cent YoY and customer acquisition rate doubled in Q4 2018.

Ratmir Timashev, co-founder and Executive Vice-President (EVP) of Sales & Marketing, Veeam, says, “Opportunities of data management, compliance and risk, data theft and cybercrime are expected to continue to present businesses with challenges throughout 2019, and into the next decade. What we have seen in 2018 is that no data is entirely secure. Customers are looking for an approach to manage data that unlocks its use and potential to drive business transformation but doesn’t lock their data into one vendor or increase their risk exposure.”

Veeam heavily invested in its team throughout 2018, most notably announcing a plan to invest $150 million to expand its main Research and Development (R&D) Center in Prague as it continues its history of trailblazing innovation. The investment allows Veeam to attract an additional 500 software developers, adding to its current workforce of more than 3,500 employees worldwide with plans to add an additional 1,000 employees this year.

Two Veeam executive roles were recently appointed to accelerate the company’s geographical expansion: Paul Strelzick, GM &SVP of Sales, Americas, and Daniel Fried, GM & SVP, EMEA. Strelzick most recently served as an advisor and consultant to Insight Venture Partners. Prior to this, he was the Executive Vice-President of Worldwide Sales at SolarWinds for 10 years. Having specialized in building efficient and seamless marketing and sales pipeline operations, Strelzick is ideally placed to drive Veeam’s Americas business in line with priorities. Previously retired from Veeam in 2017 as the SVP of Sales & Marketing, EMEA, Fried has returned to Veeam and will now oversee EMEA’s strategic direction and expansion across all segments, working to enhance partner opportunities and increase share in emerging markets.