Veeam Software Group GmbH

United States · owned by Insight Partners (United States) · www.veeam.com · 59 vendors

Veeam Software is a global leader in data protection, backup, and recovery solutions, offering cyber resilience capabilities for cloud, virtual, physical, and SaaS environments. The company provides products that help organizations protect data, ensure business continuity, and accelerate secure AI adoption. Veeam serves hundreds of thousands of customers worldwide, including a large share of the Fortune 500.

Resilience scores

Disruption prediction

Veeam Software Group GmbH has an estimated 17% probability of disruption in the next 6 months.

31 of Veeam Software Group GmbH's 59 vendors monitored for disruptions.

Technology vendors

Services catalogue

6 services in catalogue across 4 categories; runs on 59 sub-vendors.

Insights

Last updated 2026-05-05 · revision 11

59 direct vendors, 386 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 10/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Veeam exhibits a very high level of migration readiness, primarily due to its highly modern and cloud-native oriented internal tech stack. The extensive use of Microsoft Azure, AWS, and Google Cloud for cloud-native solutions, coupled with Kubernetes for container orchestration (Kasten K10) and Docker for containerization, signifies a modular, portable, and highly adaptable architecture. The adoption of Go for cloud-native products further underscores this modern approach, making migration to new cloud environments or refactoring services significantly more straightforward. Financially, Veeam's consistent growth and over $1 billion in annual recurring revenue provide substantial resources to fund and execute complex migration initiatives. Their established expertise in navigating a stringent regulatory environment, evidenced by certifications (ISO 27001, SOC 2 Type 2) and adherence to GDPR, HIPAA, CCPA, and NIS2, means they are well-equipped to manage the compliance complexities inherent in large-scale migrations. Furthermore, Veeam's existing capabilities in offering flexible data residency options across various global regions through its cloud-native backup solutions and Cloud Connect partners demonstrate a deep understanding and operational readiness for managing data sovereignty requirements during migration. While the provided data states "Total Vendors: 0," which is contradictory to the presence of "Vendor HQ Countries" and "Vendor Geographic Diversity," the "Vendor Lock-in Risk: Unknown" is the only minor area of uncertainty. Assuming there are vendors, the lack of specific vendor count and unknown lock-in risk could pose unforeseen challenges. However, the geographic diversity of vendor HQs (5 unique countries) is a positive factor, suggesting a less concentrated vendor base. Overall, Veeam's strong technical foundation, financial health, regulatory experience, and data residency flexibility position it exceptionally well for future migrations.

Compliance

4 in-scope frameworks identified; showing 3.

SOC 2 (source) — Assessment Required

SOC2 is critical for cloud service providers and SaaS companies. Veeam offers cloud-based data protection services (Veeam Data Cloud) and serves enterprise customers who typically require SOC2 compliance from their vendors. The risk is high because lack of SOC2 compliance could significantly impact customer acquisition and retention in the enterprise market, and many large customers mandate SOC2 Type II reports.

GDPR (source) — Assessment Required

GDPR applies to any organization processing personal data of EU/EEA residents. Given Veeam's global operations and the fact that they operate as 'Veeam Software Group GmbH' (German entity), they almost certainly process EU personal data including employee data, customer data, and potentially data within their backup and recovery services. Non-compliance can result in fines up to 4% of annual global turnover or €20 million. The risk is high due to the severity of penalties and the likelihood that a global technology company processes EU personal data.

NIS2 (source) — Assessment Required

NIS2 applies to Essential and Important Entities in the EU. Veeam provides digital infrastructure and ICT services, which could classify them as an Important Entity under NIS2 if they meet size thresholds (50+ employees or €10M+ turnover) and have EU operations. The German GmbH structure suggests EU presence. Risk is medium because while penalties exist (up to €10M or 2% of turnover), the regulatory framework is newer and enforcement is still developing.

Financials

Three-year financials

Financial Resilience Score: 8/10

Veeam demonstrates strong financial resilience, supported by a highly recurring revenue model (over 90% of new bookings are subscription-based) and ARR that has grown consistently in the double digits, reaching approximately US$1.7B in FY2024. The CEO has publicly characterized the company as operating at 'Rule of 60+' levels, implying healthy combined growth and free cash flow margins, which is well above software industry norms. The December 2024 secondary share sale at a ~US$15B valuation (roughly 8–9x ARR) reinforces investor confidence in the company's underlying margin profile and durability. The company benefits from durable demand tailwinds, particularly ransomware threats and growing SaaS/cloud workload protection needs, and holds the #1 global market share position in data replication and protection software per IDC. Its diversified customer base (~550,000 customers, including 77% of the Fortune 500), broad workload coverage, and partner-led go-to-market further insulate revenue from concentration shocks. However, transparency is limited — no audited EBIT, net income, or balance sheet figures are publicly disclosed — which caps confidence in the resilience score. PE ownership by Insight Partners introduces potential leverage considerations that are not publicly visible.

Key strengths: Recurring subscription revenue model (>90% of new bookings), ARR scale of ~US$1.7B with double-digit growth, #1 global market share in data protection (IDC), Diversified customer base (~550,000 customers; 77% of Fortune 500), Ransomware and SaaS-protection demand tailwinds, Reported 'Rule of 60+' performance per CEO, Strong investor backing (Insight Partners, TPG, Temasek, Neuberger Berman)

Risk factors: No audited public financial disclosures (private company), Undisclosed leverage and balance sheet structure under PE ownership, Channel concentration risk (~100% partner-led sales), Strategic dependence on Microsoft/AWS hyperscaler partnerships, Heavy product concentration in data protection/backup category, Exit from Russia/Belarus market in 2022, Workforce reduction of ~300 employees (~5%) in early 2024

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