Veeam extending beyond mid market stretching enterprise reach

Veeam's attempts to move beyond the mid market into the enterprise space appear to have been paying off with the firm releasing its revenue figures for the last year.

The privately owned firm has indicated that total bookings revenue last year hit $827m, which was up by 36% year-on-year. The firm has seen a 62% in enterprise deals and a leap in the number of $1m plus deals it sealed in 2017.

With a total of 282,000 global customers, adding on average 4,000 a month, the vendor has been able to boast of 74% of the Fortune 500 now using its data protection and availability products. The strongest growing part of the portfolio had been cloud and it managed to grow that side of the business by 50%.

The channel has played a major role in delivering that revenue increase and in the last year the vendor has extended its reach getting its products listed on Cisco's global price list and has seen 1,000 joint opportunities with HPE closed since the vendor became part of the HPE Complete programme.

Working with other vendors has been one of the key ways that Veeam has widened its partner base and it continued to work with the likes of VMware, Nutanix, Pure Storage and NetApp. More than $100m, 19%, of revenues came through those alliance partnerships.

“We continued success in the mid-market while also expanding into the enterprise, which is a key focus for us moving forward," said Peter McKay, Co-CEO and president of Veeam.

“In what has been my first full fiscal year at the company, we’ve made many bold moves in terms of market focus, partnerships and organisational structure, and they have paid off across the board," he added. The vendor stated that it is still on track to hit $1bn revenue by the end of this year.