Virtualization data protection specialist Veeam Software said its 2014 bookings revenue hit $389 million, up 40 percent over the previous year.
Veaam’s growth far outpaces the rest of the data protection market. EMC’s backup and data protection revenue for 2014 increased four percent and backup software vendor Commvault said its revenue for the last quarter of 2014 fell two percent year-over-year.
As a private company, Veeam is not required to disclose its earnings, but CEO Ratmir Timashev said, “We thought there is nothing to be shy about.”
Timashev said part of the growth comes from Veeam adding enterprise features over the past few years, as well as support for Microsoft Hyper-V. Veeam began as a backup tool for VMware, mostly in the SMB market.
“We are moving up the stack and we compete more with enterprise vendors such as IBM, EMC Avamar, and Symantec NetBackup,” he said. “With SMBs we’re competing mostly with [Symantec] Backup Exec and Acronis. Our revenue is growing fastest in the midmarket and enterprise.”
Timashev said Veeam’s revenue from Hyper-V more than doubled last year and made up about 11 percent of the company’s total. He expects Hyper-V to account for at least 15 percent of Veeam revenue in 2015.
It’s interesting that Veeam’s press release today came from VMware’s PEX partner show in San Francisco. Last year VMware created a stir by rescinding invitations to its partner show to Veeam and hyper-converged vendor Nutanix. Both are back at PEX in 2015.
“Our relationship with VMware is stronger than ever,” said Doug Hazelman, Veeam’s vice president of product strategy.
Veeam’s relationship with Symantec remains contentious, both in the data center and the courtroom.
Veeam said today that Symantec last month dismissed its Federal Circuit appeal of the U.S. Patent and Trademark Office (USPTO)’s decision to cancel all asserted claims in its patent suit filed against Veeam in 2012.
According to Veeam, the USPTO last April decided that Veeam established a reasonable likelihood of proving its assertions invalid for four patents. Tamashev said he expects USPTO to make a final ruling in April.
According to a statement from Symantec’s public relations office, the software giant considers the case far from over: “The legal dispute between Symantec and Veeam remains ongoing and proceedings continue before the patent office and in federal court. Symantec continues to vigorously assert its legal rights to protect its intellectual property. As the legal dispute is still pending, we have no additional comment.”