Veeam Builds on Momentum of Cloud and SaaS Backup Growth
General informations
Publication date: March 21, 2022
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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