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Can nothing stop the Veeam tank? We hate to save you a click but: No

Backup biz notches up another 4,000-new-customer quarter

By Chris Mellor, 19 Apr 2017

Has Veeam's record-breaking growth halted? Er, in a word, no.

In its first 2017 quarter, the enterprise backup biz claims it added close to 12,000 total paid customers, taking the total to 242,000, in line with its historical average new-customer acquisition rate of approximately 4,000 per month.

It reported, it says, another record quarter with gains in Enterprise and Cloud revenues. There was a:

  • 33 per cent year-on-year increase in total bookings revenue.
  • 17 per cent year-on-year growth of enterprise new license bookings.
  • 22 per cent year-on-year increase in the new enterprise customer count.
  • 59 per cent year-on-year growth for Cloud revenue.

Some 13.9 million virtual machines (VMs) are protected with Veeam software, we're told. It was 13.3 million a quarter ago. There are now 47,000 Veeam ProPartners (45,000 last quarter) and 15,000 VCSPs (Veeam Cloud Service Providers) globally, apparently.

Peter McKay, president and chief operating officer at Veeam, said: "Looking ahead, we expect continued growth for the remainder of this year."

Jeff Giannetti joined Veeam as veep of North America sales in March, coming from IBM's Cleversafe, where he was senior veep of global sales. Cleversafe was acquired by IBM in October 2015. Giannetti was with NetApp before, joining Cleversafe in October 2013.

It's boringly predictable; quarter after quarter Veeam grinds out record results. It will surpass a quarter of a million customers in the third 2017 quarter if the acquisition trend carries on, and it must be cramping the style of virtually every other backup software supplier. Barracuda would no doubt kill for such revenue growth. ®

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