The Insight Partners-backed company said on Tuesday it had raised $2 billion in a secondary share sale that valued it at $15 billion. TPG led the investment, while Temasek, Neuberger Berman Capital Solutions and others participated. The sale will close in Q1 2025.
This sale triples Veeam’s price tag since it was acquired by Insight Partners for $5 billion in January 2020. The company recorded annual recurring revenue of $1.7 billion, according to financial results from the end of September, and is growing 18% year over year.