News

Veeam Revenues Up 40 Percent in 2014

It also prevailed in a patent infringement case brought by Symantec.

• By Scott Bekker
• 02/06/2015

Veeam Software, best known for its virtualization backup products, had a strong 2014.

The company booked $389 million in revenues in 2014, a 40 percent increase compared to 2013, the company declared in a press release this week.

Veeam, which has been selling software since 2007, released the Veeam Availability Suite v8 during 2014 and upgraded more than one-third of its customers within 60 days, CEO Ratmir Timashev said in a statement. Veeam positions itself as a datacenter availability vendor and helps users manage virtualization, cloud and storage technologies.

Predicting $1 Billion in 2018
The revenues included $288 million in new license bookings, a 33 percent year-over-year increase, and $101 million in renewal bookings, a 66 percent increase.

"We fully expect our momentum to continue, carrying us toward our goal of $1 billion in annual revenue by 2018," Timashev said.

The company also released some channel stats. It now has 29,000 ProPartners worldwide, and the Veeam Cloud Provider (VCP) program added 2,500 services and cloud providers in 2014 to bring total VCP partners to 6,800. Paid customers number 135,000 worldwide, with 44,000 customers added in 2014, the company said.

Symantec Drops Patent Infringement Appeal
That wasn't the only good news for Veeam this week, as the company announced the first of two patent infringement lawsuits undertaken by Symantec Corp. have ended. Symantec brought the first lawsuit, involving four claims of infringement, in February 2012, according to a Veeam press release. Last month, Symantec withdrew its appeal of the U.S. Patent and Trademark Office's (USPTO) decision to dismiss the Symantec suit.

"This is a big victory for Veeam. I am pleased with the USPTO rulings. This case shows that Veeam will not back down in the face of threats, even when those threats are made by a large company like Symantec," Timashev said in the press release.

A second infringement lawsuit was filed later, in October 2012. That case also asserted four patent infringements, and Veeam is confident of the same outcome. The Veeam statement said, "... the USPTO determined that Veeam established a reasonable likelihood of proving that those asserted claims are indeed invalid." That case, however, is still being reviewed by the USPTO, and a ruling is expected in April. A ruling in Veeam's favor by the USPTO doesn't guarantee the same result as the first lawsuit, as Symantec will still have the option to appeal.

A search of the Symantec Web site found no information related to the USPTO ruling or dismissal of its appeal of the first lawsuit.