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Veeam Continues to Dominate Cloud Data Management with Q3’19 Double-Digit Growth

Veeam Software announced results from Q3 2019 and is yet again outpacing the market. In an aggressive market that is seeing both legacy and newcomers falter, Veeam has reported another quarter of double-digit growth with an annual recurring revenue (ARR) increase of 24 percent year-over-year (YoY) and huge uptake in its new Veeam Universal License (VUL) subscription pricing model which saw a 108 percent rise in bookings for the same period. In SAARC, net new customers (NNC) added was 34 percent YoY and partners added account to 65 percent YoY. Veeam also reported that in its annual customer satisfaction survey it scored a Net Promoter Score (NPS) of 75; this score sees Veeam exceeding the market average, and is the sixth consecutive year the company has achieved this result. In the SAARC region, Veeam added 34 percent YoY Net New Customers (NNC) and added 65 percent parners YoY in Q3.

“2019 has been a massive year for Veeam; not only have we surpassed $1B in annual bookings, we are also innovating the customer experience through new Veeam Universal License (VUL) subscription models and continued new product releases.In our last fiscal quarter, we saw tremendous growth across all markets, particularly our subscription business, taking our customer count to more than 365,000. As we enter Q4 2019, we will be announcing a number of new solutions that will continue our market leadership, and as we have shown with our NPS score, we are exceeding customer satisfaction at every point.” said Ratmir Timashev, Co-Founder and Executive Vice President (EVP) of Sales & Marketing at Veeam.

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