Veeam on track to become billion-dollar company

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Peter McKay, co-CEO and president of Veeam.
Peter McKay, co-CEO and president of Veeam.

Veeam Software recorded 21% year-on-year growth in the first quarter of 2018, marking the 39th straight quarter of "double-digit growth", the company announced yesterday.

During the same period, Veeam added 12 000 new customers to its current total of 294 000, it said in a statement.

Veeam, a backup, disaster recovery and virtualisation management software provider, has stated that continued growth trajectory places the company on track to become the next billion-dollar software company this year.

"Our mission is to enable the enterprise to meet the expectations of a world that demands the hyper-availability of data by being the most trusted provider of intelligent data management solutions," stated Peter McKay, co-CEO and president of Veeam.

"This commitment to our customers is our engine of growth that will drive achieving our 2018 objective of $1 billion in total bookings.

"To accomplish our mission and our growth objectives, we've made significant investments in our engineering and development teams, expanded our marketing and branding, added additional programmes and support initiatives to our partner programmes, extended our alliance relationships and offerings, and increased our focus on the large enterprise," he added.

"The outcome has been strong results in all geographies, with all reporting double-digit year-on-year total bookings growth for Q1.

"We are off to another great start for another record year, and I have complete confidence that our continued momentum, executive leadership, and our unique hyper-availability platform will enable us to become the next billion-dollar software company this year."

According to Veeam, new and existing customers have accelerated the adoption of the hyper-availability platform, which is the core component of the company's data protection and data management solution with integrated agent management.

It adds that strategic alliances continue to gain momentum as total bookings driven through alliance partnerships grew by triple-digits year-on-year.

Veeam also pointed out its acquisition of N2W Software positions it as the leading provider of availability for any app, any data, across any cloud, and its ability to protect Amazon Web Services deployments.

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