Veeam Software, a top company in the data protection and ransomware recovery market, has recently moved its corporate headquarters from Columbus, Ohio to the Seattle area, citing the proximity to major cloud providers and a deep pool of technical talent as key factors. The move comes following the company’s acquisition by private equity firm Insight Partners in March 2020 for $5 billion. Anand Eswaran, who became Veeam’s CEO in December 2021, explains that shifting the center of gravity to Seattle made sense given the talent, technology innovation landscape, and key partners in the region.
Veeam has established strategic partnerships with major cloud providers such as Microsoft, Amazon Web Services, Google Cloud, and Oracle, among others. The company recently signed a five-year agreement with Microsoft to jointly develop AI solutions and sell Veeam Data Cloud with Microsoft 365 and Azure. With over 5,000 employees globally, Veeam has about 50 employees in the Seattle area and plans to continue growing its presence there. The company’s move to Kirkland’s Carillon Point signifies a new era for Veeam, with a focus on innovation and partnership within the cloud services marketplace.
In addition to its core data protection market, Veeam also sponsors the Seattle Orcas, a Major League Cricket team in the region. The company’s sponsorship of the team aligns with its move to the Seattle area and growing presence in the region. The new headquarters in Kirkland includes a large executive briefing center and space for potential expansion. Key executives based in Kirkland, such as Matthew Bishop, Chief Operating Officer, emphasize the importance of proximity to major cloud providers in strengthening relationships and marketplaces for cloud services.
Veeam’s growth in the data protection market is evidenced by its ranking as the top company by market share in data replication and protection by IDC, as well as being recognized as a leader by Gartner for its ability to execute and customer growth and retention. The company recently surpassed $1.5 billion in annual recurring revenue for the first time, reflecting a growing focus on data protection and backup amid the rise of ransomware and cyber threats. Veeam’s features include backup of virtual, physical, and cloud-based machines, with services for data protection, restoration, recovery from attacks, and testing and verification.
Eswaran highlights key findings from Veeam’s 2024 Data Protection Trends Report, indicating that 75% of companies experienced at least one ransomware attack in the last year, with 25% experiencing four or more attacks. Despite 80% of companies paying the ransom, 25% were unable to retrieve their data. Eswaran emphasizes the changing dynamics of ransomware attacks due to AI, which have lowered the barrier of entry for bad actors to create malicious code, but have also improved defense mechanisms for companies like Veeam. The use of AI in threat detection, malware analysis, and ensuring clean backups during recovery processes helps mitigate ransomware risks.
Eswaran, who has a personal connection to cricket as an avid fan who grew up playing the sport in India, is excited about Veeam’s sponsorship of the Seattle Orcas and the prospect of bringing a cricket grounds to Marymoor Park in Redmond. The ownership group of the Orcas includes tech leaders like Microsoft CEO Satya Nadella, making the opportunity to watch top cricket players compete in the region a dream come true for Eswaran and others with a background in the sport.
