Veeam announced new capabilities this week at VeeamON, the company’s annual event created to bring together data protectors, security specialists, automation accelerators, and tech titans. I had the opportunity to discuss several key announcements with Rick Vanover, VP of Product Strategy at Veeam in this AnalystANGLE conversation.
Watch the full interview: VeeamON 2024: Veeam Announces New Capabilities here:
One of the major highlights Rick and I discussed was Veeam’s support for a new hypervisor, Proxmox, designed to enable massive workload migrations from VMware to other platforms. Although this capability has existed since 2016, it has recently been emphasized in response to rapidly evolving market conditions, offering customers and partners both greater choice and improved flexibility in managing their workloads.
In terms of security, Veeam’s VeeamON announcements highlighted the acquisition of Coveware, a company specializing in advanced incident response. Our discussion focused on the incorporation of Coveware’s capabilities into the Veeam data platform, positioning Veeam as an industry leader in comprehensive end-to-end cyber resiliency.
Unlike other threat-hunting solutions, Coveware’s proactive threat hunting capabilities are preventative rather than reactive. This is significant, as the ability to offer proactive threat hunting affords organizations a deeper understanding of not only the nature of the threats they might possibly face, but also intel on how to counter and mitigate those threats. As Zeus Kerravala, fellow analyst and member of our CUBE Collective family of analysts covered for SiliconANGLE when news of the acquisition was announced, part of Coveware’s key value proposition is the fact that it is infinitely more than an incident response solution and an early warning and/or threat destruction solution, stopping threats before they become problematic.
A Quick Look at Veeam’s Capabilities
Veeam’s capabilities encompass immutability, clean recoveries, incident response, and administrative features like the Veeam’s ransomware warranty, announced in February 2023, which provides clients with the peace of mind that they can easily recover any affected data and information with a clean, reliable copy of backup data, and the provision of up to $5 million USD in data recovery expense reimbursement.
I see these capabilities and solutions as going a long way toward emphasizing Veeam’s commitment to enhancing resiliency and addressing the critical challenges of cyber threats.
My conversation with Rick also touched upon the integration of AI within Veeam’s portfolio, emphasizing the practical application of AI as a capability for automation and touching on the alliance with Microsoft announced in March of this year. This engineering collaboration will result in capabilities to help keep organizations running despite attacks, outages and natural disasters..
Overall, our discussion provided a preview of the significant advancements and capabilities showcased this week at VeeamON, demonstrating Veeam’s commitment to addressing the evolving needs of customers and partners.
Wrapping Up
Wrapping up, it’s clear that Veeam has solidified its position in various areas with these recent announcements. Veeam has made significant progress and investments, especially with its April acquisition of Coveware. Veeam has focused on data resilience as its core positioning in the market, covering data backup, security, recovery, freedom, and intelligence. Despite its simplicity, this concept represents a rich portfolio accommodating various platforms and use cases and it’s a strategic move on the part of Veeam that I think bodes well — for the company and its customers.
I view Veeam as well-positioned in the expanding market of cyber resilience, combining data management, backup and recovery, and security. The company’s extensive network of partners and growing alliances is a valuable asset, particularly with its new as-a-service offerings. The focus on partnerships was evident at VeeamON, both in the keynotes as well as in the partners’ presence at the event.
Research from our partner ETR indicates that Veeam has a strong presence in the market. That said, we anticipate increased competition in the enterprise space, a segment that Veeam is targeting. As the company shifts its attention to cyber resilience, adapting to new personas beyond its traditional focus and the ability to expand revenue through alliances and channel partnerships faster than competitors will be critical for Veeam’s future success. Finally, there will be massive VM migrations in the next few months, presenting a significant opportunity for Veeam to demonstrate its VBR and Kasten capabilities.
