Veeam unveils $1bn revenue aspiration

Expanding software vendor plans IPO as part of ambitious five-year growth plan

Bullish virtualisation specialist Veeam Software has set its sights on becoming a billion-dollar vendor within the next five years.

The vendor manufactures data management and disaster recovery software designed for use in VMware-powered virtual environments.

Over the past 12 months, the firm says its pipeline has grown by 155 per cent. Meanwhile, the size of its UK partner base has jumped by a third to include about 450 VARs.

Ian Wells (pictured), Veeam's director for northern Europe, said the firm is set to double its revenue and workforce this year, and is planning to go public in 2012.

"We have had a storming year across all territories and product lines," he said. "The aim is to build on the success we have had so far, and become a billion-dollar software company within the next five years."

To achieve its goal, Wells said the company is on the hunt for VARs with experience in managing data within virtual environments.

"Previously, the data recovery side of the business accounted for about 75 per cent of what we do," added Wells. "But, as the virtualisation market has matured, the management side has really taken off and we need more specialists in that area."

Veeam has added a new, competency-based accreditation to its ProPartner channel programme, by way of encouraging its top-tier VARs to develop their data management skills.

Partners that attain the certification will make an additional 12 per cent margin on sales of Veeam's Microsoft- and HP-compatible nworks data management suite.

The vendor has also introduced fast-track training on nworks to increase the number of HP- and Microsoft-certified VARs in its partner network.

"We really want partners who understand Microsoft Systems Centre and HP Operations Manager," explained Wells.

"We are totally focused on VMware and have just over 50 per cent of its partners registered with us. I would love to push that to 100 per cent, but 75 per cent is probably a more realistic target," he added.

Mel Wilks, datacentre sales director at Veeam distributor Magirus, said if the vendor continues on its current trajectory, it should have no problems achieving its growth ambitions.

"Veeam has been around less than five years and has rapidly become one of our top-performing vendors," he said. "If it continues its recruitment activities, keeps investing in its products and provides partners with the same high margins, it will be fine."