January 18, 2019
Willkie advises Insight and Veeam, a software leader in backup solutions and the data management market, in the transaction.
On January 16, global software provider Veeam Software announced that Insight Venture Partners has invested $500 million, with participation from strategic investor Canada Pension Plan Investment Board (CPPIB), to accelerate the next phase of Veeam’s growth as the leading provider of data management solutions for the public and private cloud. Veeam will leverage Insight Venture Partners’ internal business strategy arm, Insight Onsite, and capital to accelerate its expansion through both organic growth and M&A activities.
The investment will enable Veeam to accelerate its growth trajectory through organic growth, such as portfolio innovation and expanding its geographical footprint, and M&A activity which will drive Veeam’s expansion into adjacent markets.
Veeam is one of the largest privately held software companies in the world, with approximately $1 billion in sales and more than 325,000 customers, including 82 percent of the Fortune 500. A global leader in Intelligent Data Management, the Veeam global ecosystem includes 60,000 channel partners, Cisco, HPE, Lenovo and NetApp as exclusive resellers, and more than 21,000 cloud and service providers. Headquartered in Baar, Switzerland, Veeam has offices in more than 30 countries.
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies. Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies.
The Willkie team was led by partner Gordon Caplan, and included partners Morgan Elwyn, A. Mark Getachew and Bradley Friedman.
