Backup solutions and cloud data management provider Veeam has announced results from Q1’2019, including the company’s claimed impact from the January launch of Veeam Availability Suite 9.5 Update 4 and a new subscription model.

Veeam reported a 16 percent increase in total bookings year-over-year (YoY), celebrating more than 343,000 customers, staying consistent with an average of 4,000 new customers each month. Veeam’s Annual Recurring Revenue (ARR) increased 30 percent YoY.

Released to the public at the beginning of Q1, Veeam Availability Suite 9.5 Update 4 has more than 200,000 (!) downloads to date. A new unique subscription pricing model for all new Veeam products would also add to Veeam’s double-digit growth figures.

New Veeam Availability Suite 9.5 Update 4 product capabilities would allow Veeam to deliver virtual, physical, and cloud data management, for any application, and any data, across any cloud, including:

  • Cloud Tier – Unlimited capacity for long-term data retention by using native, cost effective object storage integration
  • Cloud Mobility – Easy migration and recovery to AWS, Azure and Azure Stack
  • New Data Governance Capabilities – Increased security and compliance including GDPR and malware prevention.

Veeam Backup for Microsoft Office 365, currently the fastest growing product in Veeam history, reported 152 percent revenue bookings growth YoY. Veeam Backup for Microsoft Office 365 has now been downloaded by more than 55,000 organizations, representing over 7 million user mailboxes.

“Veeam’s commitment to the cloud data protection market parallels what we see as a continued strong, growing and dynamic space,” said Phil Goodwin, Research Director, IDC. “The overall cloud-based data protection as a service market is growing at a 16.2 percent CAGR, much faster than the 3.4 percent CAGR for traditional data protection and recovery software. Veeam continues its strong market growth in both segments by continuing to offer new products and services matched to the rapidly evolving cloud and on-premise requirements.”

Headquartered in Baar, Switzerland, Veeam has offices in more than 30 countries. The company has 343,000+ customers worldwide, including 82% of the Fortune 500 and 67% of the Global 2,000. Veeam’s global ecosystem includes 64,000 channel partners; Cisco, HPE, NetApp and Lenovo as exclusive resellers; and 22,500+ cloud and service providers.