- Veeam secured $2 billion in a secondary share sale, boosting its valuation to $15 billion to support R&D, acquisitions, and strategic investor partnerships.
- Despite rising competition, Veeam maintains market leadership with innovative solutions supporting over 150 workloads, serving enterprises and governments globally.
What happened: Veeam raises $2B, boosting valuation to $15B to expand R&D and acquisitions
Veeam, a leader in data resilience, has raised $2 billion in a secondary share sale, raising its valuation to $15 billion. The sale, led by TPG and other investors, is set to close in Q1 2025. This comes after Veeam was acquired by Insight Partners for $5 billion in 2020, marking a substantial growth trajectory. The company reported annual recurring revenue of $1.7 billion, reflecting an 18% year-over-year increase. The funds from this secondary sale will provide liquidity for early investors and employees, attract new strategic partners, and drive expansion in key areas such as R&D and acquisitions. Veeam aims to focus on AI and complementary data resilience technologies to enhance its market position and continue innovating in the competitive data protection space.
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Why it’s important
The secondary sale strengthens Veeam’s position as a market leader in the competitive data resilience sector, with its valuation now at $15 billion. The involvement of strategic investors like TPG, Temasek, and Neuberger Berman signals strong market confidence and enhances Veeam’s credibility as it gears up for a potential IPO. The sale provides liquidity to early investors and employees, a crucial step in attracting top-tier investors who can support the company’s long-term goals. By securing funds, Veeam aims to ramp up its research and development efforts, focusing on key areas such as AI and data resilience technologies, both of which are essential for maintaining a competitive edge.
The data resilience market has become increasingly crowded, with companies like Rubrik, Cohesity, and Druva posing competition. However, Veeam’s ability to maintain its leadership position is rooted in its comprehensive platform that supports over 150 workloads, including SaaS and AI, and serves large corporations and governments. As Veeam looks to expand through acquisitions, particularly in AI and complementary sectors, its strategic focus on innovation will allow it to stay ahead of market trends. With a strong market share and a well-funded future, Veeam is well-positioned to capitalize on the growing need for secure, scalable data solutions.
