11/7/2022 0 Comments Veeam partner![]() But the big news today is that Veeam’s executive VP of operations, William H. Earlier this week, VP of product strategy Danny Allan was promoted to the newly created chief technology officer position. This acquisition has also ushered in a number of executive changes. “We are committed to supporting Veeam’s next phase of leadership and growth in the United States, continued market-share leadership position in EMEA, and continued global expansion.” “Veeam’s strong growth, coupled with high customer retention, unparalleled data management solutions, and the opportunities to expand services into new markets, make Veeam one of the most exciting software companies in the world today,” noted Insight Partners managing director Mike Triplett. company, which will go some way toward helping it grow in the U.S. Moreover, this acquisition - which is expected to close in Q1 2020 - means that Veeam will now be a U.S. Just last month, Veeam announced native support for Amazon Web Services (AWS), while Azure support is on the way too. Under the auspices of Insight Partners, Veeam said that it plans to expand into new markets and double down on its hybrid cloud offering - a move that is already well underway. However, many companies prefer to adopt a hybrid approach, combining public and private clouds alongside on-premises infrastructure - it’s all about being agile and having a competitive advantage by offering data management and backup facilities for all scenarios. ![]() ![]() This followed shortly after other major deals in the space including Veeam rival Rubrik, which raised $261 million at a $3.3 billion valuation, while SoftBank led a $250 million investment in Veeam competitor Cohesity.Īs more companies migrate to the cloud, this presents lucrative opportunities for companies to enter the fray with the promise of protection for mission-critical data. It’s also worth noting here that Insight Partners recently led a $14 million investment in cloud-native data management platform Kasten, which is a similar proposition to Veeam. ![]() While Insight Partners has some notable exits in its portfolio, including Twitter and Shopify, the investment firm is no stranger to acquiring enterprise-focused companies outright - earlier this week it snapped up IoT security company Armis in a $1.1 billion deal, and last year it bought a controlling stake in cybersecurity company Recorded Future for more than $780 million. That Insight Partners has elected to buy Veeam perhaps should not come as a total surprise - the New York-based investor became a minority shareholder in Veeam back in 2013 as part of a broader business partnership, before leading on Veeam’s first major institutional funding round in January 2019 to the tune of $500 million. ![]()
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