Veeam Software, the global leader in data resilience, has expanded its shareholder base through a $2 billion secondary equity offering, elevating its valuation to $15 billion. The transaction was led by TPG, with participation from Temasek, Neuberger Berman Capital Solutions, and other investors. Insight Partners remains the company’s largest shareholder.
As enterprises face increasing data complexities and cyber threats, Veeam continues to lead in providing data backup, recovery, security, and intelligence solutions. With over 550,000 customers worldwide and a significant presence in the Fortune 500, the company generated $1.7 billion in annualized recurring revenue as of September 2024, reflecting an 18% year-over-year growth rate and robust profitability.
The new investor base enhances Veeam’s ability to pursue strategic growth opportunities, including acquisitions and partnerships, while reinforcing its commitment to cloud-first and AI-driven innovation. The transaction is expected to close in Q1 2025, subject to regulatory approvals.
