Veeam Software, which recently relocated its HQ to the Seattle area, reaches $15B valuation
Veeam softwarea leading data protection and ransomware recovery company, declare The company is now valued at $15 billion after a $2 billion secondary stock sale.
The secondary sale was led by TPG and involved Temasek Holdings, Neuberger Berman Capital Solutions and other investors. It is expected to end in the first quarter of 2025.
Veeam serves 77% of the Fortune 500 and more than 550,000 organizations, using its software to protect and back up data amid the rise of ransomware and other cyber threats.
The company said annual recurring revenue reached $1.7 billion as of September, up 18% year over year.
exist a report from last yearAccording to IDC rankings, Veeam is rated as the company with the highest market share in data replication and protection, ahead of competitors such as Dell, IBM, Veritas, and Commvault.
Veeam earlier this year Headquarters relocation Drawn to major cloud providers from Ohio to Kirkland, Wash., by their strong connections and deep technical talent pools.
Veeam moves headquarters from Switzerland to the United States Acquired in March 2020 Acquired by private equity firm Insight Partners – a deal that values the company at $5 billion.
The company has 80 employees in the Seattle area.
Founded in 2006, Veeam has more than 5,000 employees in 50 countries around the world, with offices in Ohio, New York, Georgia and Arizona.
Veeam CEO Anand EswaranJoined the company in December 2021 and previously served as corporate vice president of Microsoft Enterprise in the Seattle area. He most recently served as President of RingCentral.
Other key Kirkland executives include Matthew BishopChief Operating Officer, previously served as Vice President of Global Business Strategy and Operations at Microsoft, and Chief Digital Officer at RingCentral.
Veeam sponsors the Seattle Orcas, New major league cricket franchise in region.
2024-12-04 16:10:15