It may have occupied the backup software space for the longest time but the nine-year old Veeam Software is all set to fight with the big boys of the tech world as it progresses from backups to availability – the difference being the latter aims to speak to the always-on business world.
In line with this, three key areas that Veeam operates in include small and medium businesses (SMB), commercial and enterprise, underlying all these with cloud. This diversification to more kinds of businesses has allowed it to achieve the target of $607 million in revenue in 2016. The company aims now at a much more ambitious goal of $1.5 billion by 2020.
Veeam has put several plans in motion to achieve this. Last year, the company brought on board VMWare’s Peter McKay as President and COO. Just ahead of its global conference VeeamON 2017, McKay was named the Co-CEO and President of the software company, as the current CEO, William Largent, assumed the role of Chairman of the Finance & Compensation Committees.
Veeam’s driving force, Ratmir Timashev, stays involved in the larger pursuit of the company’s vision as the co-founder and Director of the company.
Veeam also donned a new look to mark the beginning of an aggressive phase. Retaining its green colours, Veeam adopted a more dynamic logo design to signify the role that availability will play in digital transformation.
The Fresh ApproachUnder the new leadership, and to continue in its growth path, Veeam is looking to help transform businesses by innovating, integrating and elevating how its sells and what its sells. Many new packages and products have been added to augment its channel strategy towards resellers and service providers. Its core objective in the new avatar is to play a strategic role for its partners and continue to be relevant in the equation.
The approach forward not only includes revitalized focus on partners but also ensuring better customer experience and satisfaction, while creating revenue opportunity for its partners.
“The year 2016 was great. We surpassed the plan we began with, and closed $607 million in bookings. We have retained a 28 per cent Y-O-Y growth, adding 4000 new customers every month, taking our total number of global customers to 231K. We invested aggressively in sales and marketing and we have had eight years of profitability,” remarked McKay, outlining the company’s growth graph.
Veeam is confident of achieving the billion dollar target, because according to the company, it has recognized the pitfall of the availability gap and is playing a part in bridging this delivering availability to the best known brands, across all segments.
“We intend to focus on the right customers, right partners and right markets. We want to understand the customer and our partners by listening more, taking and incorporating feedback, and adjusting business on the back of it,” McKay said.
