Swiss-headquartered Veeam, a provider of data backup solutions for enterprise customers, has raised a monster of a round of $500 million led by Insight Venture Partners, with participation from Canada Pension Plan Investment Board (CPPIB). This is the first publicly announced capital injection for the 12-year-old company.
According to the company's numbers, it has more than 325,000 customers and adds another 50,000 every year, while its sales have reached about $1 billion. The company has offices across the world, though most of the current job openings seem to be concentrated in the US and Russia.
“We have a long-standing relationship with Jeff Horing and Michael Triplett from Insight Venture Partners, having worked with them since 2002 when Insight invested in our first company, Aelita Software,” said Ratmir Timashev, co-founder and executive vice president (EVP), sales and marketing, at Veeam. “Today, Veeam is leading the data management space, with more than 325,000 customers, 60,000 partners, 82 percent of the Fortune 500 relying on our solutions, and with industry analysts heralding us as Leaders across all sectors; with Insight and CPPIB’s, investment I know we will take this to the next level.”