Veeam Software, a global leader in cloud data management software, today announced it raised $500 million from Insight Venture Partners and Canada Pension Plan Investment Board (CPPIB).
The fundings will be used “to accelerate the next phase of Veeam’s growth as the number one provider of data management solutions for the public and private cloud,” according to Veeam’s press release. In addition, the software company will “leverage Insight Venture Partners’ internal business strategy arm, Insight Onsite, and capital to accelerate its expansion through both organic growth and M&A activities.”
Founded in 2006 by Andrei Baronov and Ratmir Timashev, Veeam has become a giant enterprise software publisher, serving more than 325,000 customers with approximately $1 billion in sales every year.
“Only great companies like Amazon and Apple have been able to pivot into market leading positions in multiple markets, and Veeam now joins this elite group,” commented Michael Triplett, Managing Director at Insight Venture Partners, and member of the Board of Directors at Veeam.
Headquartered in Baar, Switzerland, Veeam has offices in more than 30 countries.
Source: Veeam
