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Veeam reports biggest second quarter in company history

Veeam Software has announced an annual recurring revenue increase of 20% year-over-year for Q2’20 – the biggest second quarter in the company’s 14-year history. 

In addition, Veeam reported its largest ever quarter for total bookings of its fastest growing product, Veeam Backup for Microsoft Office 365, with an 89% YoY increase and a 75% YoY gain in overall subscription bookings. 

“As employees are transitioning to the new ‘work from home’ environment, data protection and availability are now more important than ever,” says Bill Largent, CEO at Veeam. 

“Just as employers must protect the health, safety and welfare of their employees, they must also have solid business continuity plans in place and protect the most important asset of their organisation – their data. 

"During Q2’20, Veeam continued to accelerate its business and growth trajectory with our broad ecosystem of partners, and we have maintained a customer-first ethos," he says.

"Our innovation, combined with our company momentum, will make 2020 a historic and significant year for Veeam and our partners.” 

A major highlight of Q2 was VeeamON 2020, the world’s premier online Data Management event. Initially planned as a physical event in Las Vegas, it transitioned to a two-day online event due to the current pandemic. 

The event had close to 30,000 registrants from 148 countries, with more than 40 breakout sessions, product demos and advanced configurations of Veeam products, and keynotes from Veeam executives and industry speakers from IBM, Microsoft, NetApp, VMware, Pure Storage and IDC. 

In addition to unveiling Veeam Availability Orchestrator (VAO) v3, Veeam provided a preview of what the company is planning for upcoming product releases, including the Veeam Availability Suite v11, as well as Veeam Backup for Microsoft Office 365 v5.

Danny Allan, CTO and senior vice president of product strategy at Veeam, says, "Veeam kicked off 2020 with news of our acquisition by Insight Partners at a valuation of approximately $5 billion, followed by our biggest product launch ever – Veeam Availability Suite (VAS) v10, the industry’s most robust solution for complete data management and protection for hybrid-cloud environments. 

"Both announcements were major game-changing milestones for Veeam and the tech industry,” he says.

“With a half-dozen product releases in 2020 already, we’re planning about a dozen total, including Veeam Backup for Microsoft Office 365 v5 later this year," Allan says. 

"The demand for Veeam Backup for Microsoft Office 365 has exploded due in part to the new work from home environment, fuelling the best quarter to date for that product. 

"Our recent and upcoming product releases provide significant benefits to our customers, further differentiate us from the competition, and provide a strong path forward for growth.”