Creating effective data security solutions to address problems exacerbated by legacy IT infrastructures and outdated software, Veeam Software Corp. has set its sights on a whole new ballgame: support for ubiquitous hybrid cloud and edge environments.
“Veeam has shown that it has the ability to move with the market and develop a range of products that are well timed with market trends,” said Dave Vellante, chief research officer of Wikibon Inc. and host of theCUBE, SiliconANGLE Media’s livestreaming studio.
During this year’s VeeamON event, theCUBE will explore the latest from Veeam, breakdown keynote announcements, and hear firsthand from analysts and practitioners at the event. Join theCUBE May 17 and 18 for the latest news. (* Disclosure below.)
Rising to the security challenge
A recent Veeam report revealed that 89% of organizations are insufficiently approaching the task of securing their critical business data. This is primarily due to the increasing complexities associated with securing cloud repositories at scale, and it’s driving the expectation of security budgets to outpace broader IT spending.
“As data volumes have exploded, so too have the risks associated with data protection; ransomware being a prime example,” said Anand Eswaran, chief executive officer of Veeam. “Businesses are losing ground as modernization of ‘production’ platforms is outpacing their modernization of ‘protection’ methods and strategies. Data volumes and platform diversity will continue to rise, and the cyber-threat landscape will expand. So, CXOs must invest in a strategy that plugs the gaps they already have and keeps pace with rising data protection demands.”
To address the expanding threat landscape, Veeam has made significant investments, including the recent acquisition of Kasten, the Kubernetes backup/recovery solution. Already the market leader in K8s backup, Kasten’s first fiscal year (2021) under the Veeam umbrella yielded a staggering 900% year-over-year increase in bookings, in addition to a quadrupling in staff size to serve the increased demand.
Outstanding results all around
Overall, Veeam’s market insights have led to massive growth for the company, as it posted a record-setting fiscal year-ended 2021, when the company announced its 16th consecutive quarter of double-digit growth. The company has now emerged as the world’s number 2 data protection vendor, commanding a 27% YoY increase in annual recurring revenue, having notched its fifth consecutive ranking in Gartner’s 2021 Magic Quadrant as a leader in Enterprise Backup and Recovery Solutions.
“Veeam was ahead of the game and one of the first, if not the first, to offer support for protecting SaaS offers,” Vellante stated. “That market is now hitting a steep demand curve, and all of the data protection vendors are jumping on the bandwagon.”
Following Veeam’s pioneering move, it saw its Microsoft Office 365 business grow faster than expected, with 73% YoY growth by the close of business 2021. Veeam Backup for Microsoft Office 365 now boasts 8.5 million global users.
Livestream of VeeamON
How to watch theCUBE interviews
We offer you various ways to watch theCUBE’s live coverage of VeeamON, including theCUBE’s dedicated website and YouTube channel. You can also get all the coverage from this year’s events on SiliconANGLE.
TheCUBE Insights podcast
TheCUBE’s coverage of VeeamON 2022 includes in-depth interviews with Veeam’s CEO Anand Eswaran; CISO Gil Vega; and CTO Danny Allan.
TheCUBE will also talk with Patrick Osborne, vice president of the Storage Business Unit at Hewlett Packard Enterprise; Jeanna James, global alliance manager at Amazon Web Services; and Brian Schwarz, director of product management at Google Cloud, as well as other industry experts.
(* Disclosure: TheCUBE is a paid media partner for VeeamOn 2022. Neither Veeam Software Corp., the sponsor for theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)