Veeam reports accelerated growth in ME in Q2’16
Total bookings revenue expand more than a fifth year-over-year in the region
Veeam Software, has announced a 22 percent year-over-year (YoY) growth in total bookings revenue in the Middle East for Q2 2016.
The Veeam Cloud & Service Provider (VCSP) program, which offers opportunities for service providers in the region to acquire new customers and grow recurring revenue, reported an increase of 200 percent in the number of transactions year-over-year.
Gregg Petersen, regional director, MEA and SAARC, Veeam Software says, “The results show that enterprises in the Middle East are embracing Veeam’s innovative approach of delivering availability solutions, which enable SLAs for recovery time and point objectives of less than 15 minutes for ALL applications and data. This continued growth is a testament to the success of Veeam`s vision and execution, carrying the company toward its goal of $1 billion in annual revenue by the end of 2018. We have experienced tremendous success in the O&G, banking, government and education across the entire region.”
Globally the company announced a record 38 percent year-over-year (YoY) growth in total bookings revenue for Q2 2016. Growth in quarter-over-quarter (QoQ) total bookings revenue was even higher at 40 percent.
The company also reported a 40 percent YoY increase in total bookings revenue from enterprise deals and has surpassed 200,000 paid customers across the business.
“The first half of 2016, has been monumental for Veeam,” said Peter Ruchatz, CMO at Veeam. “Our penetration into the enterprise market continues to accelerate as they [enterprises] seek to meet the needs of users who are embracing transformative technologies such as cloud, mobile and social platforms. We announced the upcoming launch of Veeam Availability Suite 9.5, and secured the ‘Leaders’ position in Gartner’s June 2016 Magic Quadrant for Data Centre Backup and Recovery Software. We expanded and strengthened our executive team to continue our journey to a $1B company, while also reaching a major milestone – crowning our 200,000th customer. All in all, it has been a fantastic start to 2016.”
Veeam also announced this quarter that it has surpassed 200,000 customers, only a decade after introducing its first product - Veeam FastSCP for VMware ESX Server –
“While it is a well-known fact that legacy backup technologies no longer satisfy the needs of modern business, what excites Veeam is the extent to which customers are embracing our innovative approach to delivering availability across the enterprise,” stated Peter McKay, newly appointed president and COO at Veeam. “Our latest results clearly indicate that a seismic shift is taking place within the industry. Businesses of all sizes are abandoning ‘traditional’ thinking and are beginning to understand that 24.7.365 Availability is now a prerequisite. Our strategy for the future is clear, and we are continuing to add richer features and functionality to our portfolio which will deliver not only on the needs of today’s users, but provide a foundation for the future.”
“Veeam continues to show strong revenue growth, even in the face of market headwinds,” said Phil Goodwin, research director for protection, availability and recovery at IDC. “The overall data protection and recovery software market grew just 0.9 percent in 2015 as measured in current dollars, yet Veeam grew at 21.5 percent despite a sharply stronger US dollar. In order to reach the company’s stated goal of $1 billion annual revenue in 2019, it needs to average 30 percent YoY growth. These recent results put it on that pace and then some.”
Additional highlights from Veeam’s global Q2 2016 results include:
- Veeam announced that it has appointed Peter C. McKay, most recently senior vice president and general manager, Americas with VMware, as its president and chief operating officer and promoted William H. Largent, currently executive vice president, as its new chief executive officer.
- Veeam continues to see growth in the cloud, especially as demand for Disaster Recovery as a Service (DRaaS) intensifies. The Veeam Cloud & Service Provider (VCSP) program, which offers opportunities for service providers to acquire new customers and grow recurring revenue, reported an increase of 76 percent in the number of transactions year-over-year. The VCSP program has grown to more than 12,400 service and cloud providers worldwide, with more than 1,900 of those partners licensed to provide services for Veeam Cloud Connect.
- Veeam added 12,500 total paid customers in Q2 2016, an increase over the historical average of approximately 3,500 new customers each month.
- 11.8 million virtual machines are today protected with Veeam Availability Solutions.
- Veeam’s expansion of its channel base continues to attract new resellers and VARs, reaching 41,000 ProPartners worldwide.
- Veeam reported a 49 percent growth in Microsoft Hyper-V new license bookings over the same period during the previous year. Veeam was named a finalist in 2 categories for the 2016 Microsoft Partner of the Year award: Application Development and Microsoft Azure Certified ISV Solution.