Veeam Software Reaches $15 Billion Valuation Following $2 Billion Secondary Sale

The data resilience company plans for growth and an eventual IPO while diversifying its investor base.

Veeam Software completed a $2 billion secondary share sale, led by TPG with participation from Temasek and Neuberger Berman Capital Solutions, valuing the company at $15 billion.
The company has tripled its valuation since its $5 billion acquisition by Insight Partners in 2020 and now generates $1.7 billion in annual recurring revenue, up 18% year over year.
The funds will support research and development, potential acquisitions, and strategic growth ahead of an eventual IPO, though no timeline has been set for going public.
Veeam recently relocated its headquarters to Kirkland, Washington, to leverage proximity to major cloud providers and technical talent, while serving over 550,000 organizations globally.
The company remains a leader in data protection and ransomware recovery, with plans to expand its capabilities, including exploring AI-driven technologies and complementary acquisitions.