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Veeam builds on momentum ofcloud and SaaS backup growth

Market Insight Report Reprint

Last updated:
3 years ago
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Veeam Builds on Momentum of Cloud and SaaS Backup Growth


General informations


Publication date: March 21, 2022

Contents
Veeam Builds on Momentum of Cloud and SaaS Backup GrowthGeneral informations S&P Global Market IntelligenceMarket TrendsFinancial StrategyBusiness ContextKey ProductsCompetitionSWOT analysisOh hi there 👋It’s nice to meet you.Sign up to receive awesome content in your inbox, every week.

Henry Baltazar


 S&P Global Market Intelligence

Veeam Financial Performance

FY 2021 Revenue: Over $1 billion

Growth: Fast-growing cloud and SaaS native data protection products

Outlook: Potential IPO in the future

Company focus

Products: Improved disaster and ransomware recovery capabilities

Market Demand: Increase for these products and services


Market Trends

Growth: Driven by increasing ransomware attacks and the importance of data in SaaS platforms and public clouds

Innovation: Accelerate data protection and management


Financial Strategy

Available Capital: $500 million in cash

Investments: 15 major product releases in 2021, with plans to maintain a rapid pace of product introduction and enhancement


Business Context

CEO: Anand Eswaran, former president and COO of RingCentral
Performance: $1.2 billion ARR, up 27% year over year


Key Products


Veeam Backup for Microsoft 365: 74% YoY Growth

Cloud Native Backup Products: 420% YoY Growth


Competition


Challenge: Competition with large vendors and new players in the data protection market

Competitors: Dell EMC, Commvault, Veritas, IBM, Acronis, Arcserve, Cohesity, Rubrik and others


SWOT analysis

Strengths: Constant growth, building a portfolio to address future opportunities

Weaknesses: SaaS data protection limited to Microsoft 365, extending to Salesforce


Opportunities: Backup and disaster recovery as key requirements, regardless of the presence of on-premises infrastructure
Threats: Mature and competitive market with many significant and stabilized players

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Veeam builds on momentum ofcloud and SaaS backup growth
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