Veeam’s CEO, Anand Eswaran (pictured above), told TechCrunch that while the company didn’t need to raise capital, the timing was right to give their early investors and employees some liquidity. It also wanted to bring on strategic investors on the journey to an eventual IPO, Eswaran said, although he added the company doesn’t have a timeline for an exit yet.
“Welcoming select blue-chip, top-tier investors was critical,” Eswaran said. “If you look at the next phase of the journey, several milestones like an IPO, having a diversified, top-tier set of investors for such milestones is critical.”