Veeam Welcomes New Investors with $15 Billion Valuation
Deal News | Dec 04, 2024 | TPG
Veeam Software, recognized as the global leader in data resilience, announced a significant expansion of its shareholder base through a $2 billion secondary equity offering. This effort, valuing the company at $15 billion, was spearheaded by TPG with contributions from leading investors such as Temasek and Neuberger Berman Capital Solutions. Originally owned by Insight Partners, the new investment further entrenches Veeam’s dominance in the burgeoning data resilience sector. As of September, Veeam reported an annualized recurring revenue of $1.7 billion, showing an 18% year-over-year growth, bolstered by a robust software and SaaS subscription business growing at 31%. The financial health of the company is underscored by a 30% EBITDA margin, highlighting its capability to invest in forward-looking technologies like security, cloud, and AI. Headquartered in Seattle, with a presence in over 30 countries, Veeam supports more than 550,000 customers globally.
Sectors
- Data Resilience
- Private Equity
Geography
- United States – Veeam is headquartered in Seattle, and the primary private equity firm, TPG, also operates in the United States.
Industry
- Data Resilience – The article focuses on Veeam, a global leader in the data resilience sector, highlighting its position and growth in the market.
- Private Equity – TPG, a private equity firm, leads a major investment round in Veeam, indicating the involvement of the private equity sector.
Financials
- $15 billion – Valuation of Veeam post-secondary equity offering.
- $2 billion – Amount raised in the secondary equity offering.
- $1.7 billion – Annualized recurring revenue (ARR) of Veeam as of September.
- 31% – Year-over-year growth rate of Veeam's Software and SaaS subscription business.
- 30% – EBITDA margin of Veeam.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Veeam Software | Target | Company | Veeam is the leading global provider in data resilience. |
| TPG | Leading Investor | Company | A private equity firm leading the $2 billion investment round in Veeam. |
| Temasek | Investor | Company | A participating investor in the $2 billion equity offering. |
| Neuberger Berman Capital Solutions | Investor | Company | A participating investor in the $2 billion equity offering. |
| Insight Partners | Selling Company | Company | The company that originally owned Veeam before the secondary offering. |