Veeam Software, a global leader in data resilience, has announced an expansion of its investor base through a secondary stock offering valued at $2 billion. This move brings the company’s valuation to $15 billion and reinforces its position as the number one player in the global data resilience market. The transaction was led by TPG, with participation from Temasek, Neuberger Berman Capital Solutions, and other key investors.
A partner against digital threats
In a digital world where data protection is critical for ensuring business continuity, Veeam has emerged as a trusted partner for over 550,000 organizations worldwide, including 77% of Fortune 500 companies. With a comprehensive approach that covers everything from backups to data recovery and ransomware defense, Veeam offers industry-leading solutions that protect businesses from disruptions and cyber threats.
Veeam’s CEO, Anand Eswaran, emphasized the importance of data in today’s business landscape: “In a digital world, data is the backbone of your business. If you lose access to it, your business comes to a halt. Our mission is to ensure that our clients can remain resilient in the face of any threat.”
Strong results and sustained growth
As of September 2024, Veeam has generated $1.7 billion in annual recurring revenue (ARR), with a year-over-year growth of 18%. The Software + SaaS segment recorded a 31% increase, and the company achieved an EBITDA margin of 30%, surpassing the “Rule of 40,” which combines growth and profitability.
These results have enabled Veeam to make significant investments in security, cloud technology, and AI-driven innovation, solidifying its position as a leader in data resilience.
Investment in cloud and advanced protection
In 2024, Veeam launched the Veeam Data Cloud, a backup-as-a-service (BaaS) platform that combines a seamless experience with powerful data protection capabilities. It also introduced the Veeam Data Cloud Vault, which offers secure and immutable cloud storage, helping businesses protect themselves against ransomware and other threats.
According to Arun Agarwal, a partner at TPG, “Veeam’s strategy toward the cloud and its ability to adapt to the needs of modern businesses positions it to continue gaining market share.”
A strategic backing for the future
TPG and other investors are joining Insight Partners, Veeam’s largest shareholder, to drive its next phase of growth. Nehal Raj, co-managing partner at TPG Capital, stated: “We have long admired Veeam’s trajectory and its ability to deliver innovative, high-quality solutions. We are excited to support the company in its next chapter.”
The transaction, exclusively advised by Morgan Stanley & Co. LLC, is expected to close in the first quarter of 2025, subject to regulatory approvals.
Global leadership and radical resilience
Recognized as the number one in the data replication and protection software market, Veeam continues to set the standard in the industry. With offices in over 30 countries and a client portfolio that includes 74% of the Global 2000 companies, Veeam has become an essential partner in ensuring operational continuity in an increasingly digital world.
With its ongoing commitment to innovation and data resilience, Veeam is poised to lead the future of the industry, offering solutions that not only protect data but also drive confidence and control in a dynamic business environment.