Veeam growing at 30-40% in India: CEO Anand Eswaran

Data backup and recovery have always been part of companies' technology investments, but data resiliency, which refers to an organisation's ability to ensure business continuity in the face of unexpected disruptions like cyber-attacks, natural disasters, or power outages, is now becoming increasingly important. American data backup and recovery company Veeam, in this year's user conference, VeeamOn, held in Florida, US last week, focused on cyber resilience, ransomware preparedness, and prevention, introducing new partnerships and AI integrations. In an exclusive interaction with TechCircle, Anand Eswaran, the chief executive of Veeam, discussed the significance of investing in data resiliency, its upcoming copilot and the company’s plans for the Indian market. Edited excerpts:
 
Why is it crucial for companies to invest in data resiliency and what are the key components of a successful data resilience strategy?

Data resilience involves much more than just backing up data. Factors such as data recovery speed, recovery time objective, recovery point objective, disaster recovery, data security, and de-duplication play essential roles in a robust data resilience strategy. Veeam's success is attributed to our innovative solutions that allow customers to backup, protect, and securely recover their data instantly, minimising downtime in the face of ransomware attacks or natural disasters. This level of preparedness is indispensable for every organisation.
 
How do you plan to maintain leadership in the backup and recovery market amid increased competition?

With annual recurring revenue surpassing $1.5 billion last year, Veeam's success demonstrates our customers' trust in our secure ransomware recovery solutions across all environments. In a landscape where cyber-attacks are prevalent, organisations must secure their critical business data with immutable backups and be ready for swift recovery during crises. This commitment to providing peace of mind to our customers has allowed us to maintain a leadership position in the market. We are grateful for the unwavering support of our 450,000 customers and partners.
 
As more companies embrace cloud technology, what steps should organisations, especially those in regulated sectors, take to safeguard their data in the cloud?

We offer data backup solutions for various environments, whether physical data centres, cloud-based systems, or hybrid architectures. Our products seamlessly protect data across platforms such as on-premise, cloud, hybrid apps, software-as-a-service (SaaS) applications, containers, and Kubernetes. Regardless of the platform chosen, we guarantee data protection and support our technology with a customer-centric approach. Our flexible licensing model, the Veeam Universal License, adapts to changes in hybrid setups, ensuring customers only pay for what they use. This adaptability distinguishes our technology and is highly valued by our customers.
 
With many companies tightening their technology budgets, do you anticipate a similar trend in data security and protection budgets?

Research reports from Gartner to IDC consistently highlight a significant increase in budgets for data protection. The evolution of data protection from a backup administrator concern to a critical aspect of resiliency against ransomware attacks underscores the importance of safeguarding data. This shift in priorities is evident across organisations, with discussions within leadership teams essential to evaluate the adequacy of resiliency measures. Data resilience is no longer exclusive to IT companies; it is a fundamental requirement for all businesses, as demonstrated by incidents like Google Cloud's accidental deletion of pension fund data worth $135 billion.
 
You mentioned the upcoming launch of a Copilot. What is it, and when can we expect its release?

In March, we announced a strategic collaboration with Microsoft to develop AI solutions for data backup and recovery using Microsoft Copilot for AI-empowered automated data analysis and insights. Veeam has integrated custom code elements based on Microsoft Copilot into its offerings, marking a significant advancement in data backup and recovery services entering the AI domain. Veeam Copilot, set to launch later this year, leverages generative AI to provide additional insights and recommendations for data managed by Veeam, enhancing user experience and decision-making.
 
What growth potential do you see for Veeam in India?

India represents one of our fastest-growing markets globally, with significant investments and opportunities for growth. While we cannot disclose specific details, we recently secured a major bank as a client, underscoring our success against competitors. Our growth rate in the Indian market ranges from 30% to 40%, reflecting the tremendous potential and opportunities in India. We remain committed to investing in and supporting our growth in India.
 
Looking ahead, what are your plans for the Indian market in the next 12-18 months?

Our focus in the Indian market involves educating on the importance of data resilience and developing strategies for comprehensive data resilience. We aim to expand ROI by safeguarding multiple workloads through collaboration with partners and customers, using a unified platform to secure various workloads effectively. Protecting SaaS workloads is a top priority, with a particular focus on safeguarding Microsoft 365 data. Our goal is to minimise inquiries about data resilience by successfully implementing our strategies.
 
The acquisition of Coveware enhanced Veeam's security offerings, particularly in ransomware protection. Do you plan similar acquisitions in the future?

Our acquisition strategy aims to enhance our platforms and services, providing customers with additional value and support. The acquisition of Coveware has strengthened our incident response capabilities, allowing us to support customers throughout the entire incident lifecycle, from initial response to recovery and negotiation. We approach acquisitions strategically, focusing on areas that complement our existing offerings and benefit our customers. Our priority is to ensure that our customers receive comprehensive support and solutions to manage and recover from incidents effectively.

(The journalist attended VeeamOn 2024 in the US at the invitation of Veeam Software)