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February 4, 2015

Veeam expects $1bn in annual revenues by 2018

The firm says total bookings rose by 40% to hit $389m in revenues last year.

By Amy-Jo Crowley

Virtualised backup recovery firm Veeam says it expects to generate $1bn in annual revenues by 2018, after announcing highlights of its full-year results.

Veeam said total bookings rose by 40% from 2013 to hit $389m in revenues last year, with license bookings increasing 33% to $288m.

The firm’s Veeam Cloud Provider (VCP) programme also reported growth of 106% in rental and subscription bookings during the same period, adding 2,500 in 2014.

Veeam put the growth down to the release of its latest Veeam Availability Suite v8, which includes the Veeam Cloud Connect, integration with NetApp and other features in replication and disaster recovery.

"Our release of Veeam Availability Suite v8 was even more successful than we had anticipated, with more than a third of our customers upgrading within the first 60 days," Veeam’s CEO Ratmir Timashev said.

"It’s a testament to the strong demand for solutions that can deliver data centre availability. With close to eight million virtual machines worldwide ensured by Veeam availability solutions, we are transforming the modern data centre by bringing together virtualisation, cloud and storage technologies, and our continued growth illustrates the success of our vision and execution."

The company also gained 44,000 new customers last year, increasing its total to more than 135,000 paid customers around the world.

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Timashev added: "2014 was a great year, and we fully expect our momentum to continue, carrying us toward our goal of $1 billion in annual revenue by 2018."


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