Swiss data management firm Veeam raises $500M from Insight Venture Partners, plans aggressive acquisitions

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The pioneer in intelligent data management globally, Veeam has secured a capital infusion of $500 million, the largest in the current ecosystem. The investment round has been led by Insight Venture Partners with partaking from Canada Pension Plan Investment Board.

The funding will allow Veeam to bolster its No.1 position in the data management space and further expand its operations.

Insight Venture Partners’ assertion on the investment

Managing Director of Insight Venture Partners, Michael Triplett stated, “Over the past decade, Veeam has established itself as the premier vendor for on-premises backup and recovery software, and is now No.1 in the market for providing data management for public and private cloud environments. Only great companies like Amazon and Apple have been able to pivot into market-leading positions in multiple markets, and Veeam now joins this elite group.”

Michael who is also a member of the Board of Directors at Veeam, further emphasised, “Veeam has unparalleled leadership in terms of technology, vision and go-to-market strategies, which we believe will only further extend its No.1 market position. Insight is thrilled to continue this journey with Veeam’s management.”

Veeam – makes the presence in 30+ countries with 325,000+ clients

Established in 2006 by Andrei Baronov and Ratmir Timashev, Veeam  specialises in developing backup, catastrophic resurgence and intelligent data management software for physical, virtual and multi-cloud infrastructures.

Headquartered in Baar, Switzerland, the IT company caters more than 325,000 customers globally. Notably, its clientele covers 82 percent of the Fortune 500 and 66 percent of the Global 2000. Upholding the highest benchmark of average customers satisfaction score at 3.5X in the industry, Veeam Hyper-Availability Platform is the most advanced integrated solution for smart data management.

With worldwide employee strength over 3,600, Veeam maintains offices in more than 30 countries. The Swiss company has partnered with 60,000 channel, cloud and service providers including Amazon, Microsoft, Dell, IBM, HPE, Lenovo, Cisco and NetApp.

Veeam co-founder explained the journey

Co-founder and Executive Vice President (EVP), Sales and Marketing, at Veeam, Ratmir Timashev expressed, “We have a long-standing relationship with Jeff Horing and Michael Triplett from Insight Venture Partners, having worked with them since 2002 when Insight invested in our first company, Aelita Software.

Back then, we relied on Insight to provide strategic counsel and support, and after we sold that company to Quest Software in 2004, we continued our relationship. Over the years, Insight has been a trusted advisor to Bill Largent, Andrei Baronov and me, even acquiring a minority share in Veeam back in 2013.

Today, Veeam is leading the data management space, with more than 325,000 customers, 60,000 partners, 82 percent of the Fortune 500 relying on our solutions, and with industry analysts heralding us as Leaders across all sectors; with Insight and CPPIB’s, investment I know we will take this to the next level.”

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