Veeam Availability Suite 9.5 Update 4 and new subscription model fuels 30 percent increase in annual recurring revenue (ARR) and 16 percent total bookings growth as businesses leverage hybrid cloud strategy to drive data availability, agility and business acceleration.
Veeam Software, the leader in Backup solutions that deliver Cloud Data Management, announced results from Q1’2019, including obvious impact from the January launch of Veeam Availability Suite 9.5 Update 4, one of the largest and most anticipated product releases in the history of the company, which is now one of the largest private software companies in the world.
Veeam reporteda 16 percent increase in total bookings year-over-year (YoY),celebrating more than 343,000 customers, staying consistent with an average of 4,000 new customers each month.Veeam’s Annual Recurring Revenue (ARR) increased 30 percent YoY, a testament to the success of a new unique subscription pricing model for all new Veeam products, including new Veeam Availability Suite 9.5 Update 4. Released to the public at the beginning of Q1, it has more than 200,000 downloads to date. In the SAARC region, Veeam witnessed a tremendous growth momentum with 149 percent YoY increase in total bookings. The region also added 50 percent (YoY) partners in Q1’2019.
“In my first full quarter back at Veeam leading sales and marketing, we focused on core priorities that brought us clear success, and that will continue to fuel our growth and validate our leadership position throughout the year,” said Ratmir Timashev, Co-Founder and Executive Vice President (EVP) of Sales & Marketing. “We are now focused on an aggressive strategy to help businesses transition to cloud with best-in-class Backup and Cloud Data Management solutions. IDC has forecast that 90 percent of organizations will embrace a multi-cloud strategy within three years, which provides us a significant growth opportunity to leverage the shift our customers and partners are making, and ensuring we support them in every aspect – with the very best products and solutions. This strategy has also fueled our new Veeam Instance Licensing (VIL) model, which was created to provide flexibility to move workloads from on-prem to public cloud and back without an additional cost. Veeam is the first in the industry to offer this portable, game-changing license approach for managing multi-cloud environments.”