Press Release

Veeam reports 27% growth in Q4, making 2021 the most successful year on record


With the 16th consecutive quarter of double-digit growth, Anand Eswaran joins as CEO to lead next phase of growth and scale the company

Veeam® Software, the leader in backup, recovery and data management solutions that deliver Modern Data Protection, today announced another quarter of double-digit growth with an annual recurring revenue (ARR) increase of 27% year-over-year (YoY), signifying 2021 as the company’s most successful year on record. Not only was revenue record-breaking, but Veeam closed 2021 as the #2 data protection vendor worldwide[i], ranked as a Leader for the fifth consecutive time in the 2021 Magic Quadrant for Enterprise Backup and Recovery Solutions[ii], saw its Microsoft Office 365 business grow faster than expected with 73% YoY growth and achieved over 36% YoY growth of Veeam Availability Suite.

“IDC expects the total Data Protection as a Service (DPaaS) market to reach $18.4 billion in spending by 2025[iii],” said Anand Eswaran, CEO at Veeam. “Given the current global landscape and the fact that businesses now have more data than ever to protect — from ransomware and cyberattacks, compliance and new regulations, and the complexities of remote working environments — I believe that the market opportunity is even larger than what is being predicted. Veeam is outpacing the overall market maturation, growing at a much more rapid rate, and is firmly at the epicenter of the data ecosystem. This is a testament to our employees and company culture, the pace of development and innovation, and our collaboration with partners to deliver solutions that exceed customer expectations and build trust.”

“Veeam ended 2021 on the highest of notes with our annual recurring revenue (ARR) hitting over $1 billion globally. Q4 in APJ reported double-digit growth of 32% year-over-year (YoY), signifying 2021 as the company’s most successful year on record,” said Shiva Pillay, General Manager and Senior Vice President, APJ at Veeam. “We continued to celebrate major business milestones – our global customer base of over 400,000 saw the addition of new references across APJ including Clough GroupAnglicare Southern Queensland and Lindsay Transport.

Our alliance partnerships are another driving force behind our business growth and in Japan, we announced our partnership with technology alliance partner Wasabi Technologies to offer Veeam Backup for Microsoft Office 365 to customers. This further strengthens our commitment to the partner community as we deliver more effective solutions to our customers. We also welcomed Anand Eswaran to the Veeam family as CEO. We have great, ambitious plans to take the strong foundation Veeam has as a trusted technology partner in modern data protection to new heights and with a lot of momentum behind us, Anand’s appointment couldn’t be more opportune to help us grow and scale even further. This illustrates how Veeam’s growth story go from strength to strength as we continue to lead the market for backup, recovery and data management. However, we wouldn’t be where we are today without our people – we celebrated many of our APJ employees who were recognized in industry awards across the region. I am proud to be part of a team that continues to meet and exceed customer expectations but more humbled and privileged to be able to work with the best in the business every day.”

2021 Highlights

  • Anand Eswaran was appointed as Veeam’s new CEO and a member of the company’s board of directors. William (Bill) H. Largent stepped down as CEO to focus on his role as chairman of the board of directors.  Eswaran joined Veeam from a successful tenure at RingCentral, where he was president and Chief Operating Officer (COO), overseeing exponential growth and customer expansion.
  • Veeam cloud-native data protection reported more than 420% growth YoY. New releases of Veeam Backup for AWS v4, Veeam Backup for Microsoft Azure v3 and Veeam Backup for Google Cloud v2 are now integrated directly into Veeam Backup & Replication v11a with 100% functionality for Veeam Universal License (VUL) license holders.
  • Data storage in the cloud is driving massive growth. Veeam moved more than 500PB (0.5 EX) of data to public cloud storage in 2021, which accounts for 135% growth YoY. Veeam’s single platform for Modern Data Protection — simple, flexible, reliable and powerful — continues to be the industry standard and provides the highest level of value to customers.
  • More than 450,000 users have downloaded Veeam Backup & Replication v11 since its launch in Q1’21. Released as the most advanced data protection solution for cloud, virtual, physical, NAS and enterprise applications, V11 now enables organizations to accelerate cloud adoption of Amazon Web Services (AWS), Azure and Google by ensuring data is reliably secured, protected and managed from a single console.
  • Veeam Backup for Microsoft Office 365 reported 73% ARR growth YoY for 2021. The #1 backup and recovery solution for Microsoft 365 enables users to securely back up to any location, including on premises, in a hyperscale cloud or with a service provider. With 8.5 million users now relying on Veeam to protect their Office 365 data, V6 will be released in early 2022.
  • Veeam’s ransomware protection capabilities in Veeam Backup & Replication, Veeam ONE™ and Veeam Disaster Recovery Orchestrator (which reported 204% YoY growth) continue to provide customers with fast, reliable recovery options from cyberattacks, with various immutable storage options on premises and in the cloud.
  • Veeam counts 81% of the Fortune 500 and 70% of the Global 2000 as customers. New Q4 advocates include: Johnson MattheyTelefónica UruguayTUI GroupYamaha BrazilAnglicare Southern QueenslandBIOCADBrunel International N. VCalan and Associés Sp. z.o.o.City of VictoriaClough GroupFranprixKern CountyLancaster UniversityLeumit Health ServicesLindsay Australia, PKO Ubezpieczenia and Transdev.

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