Veeam releases third version of Backup for Microsoft Office 365

Veeam has announced the third version of Backup for Microsoft Office 365. In addition to a paid version, this version also comes with a free version called Backup for Microsoft Office 365 Community Edition. This variant is almost identical to the paid version, but limited to ten users and 1 TB of protected SharePoint data.

Veeam Backup for Microsoft Office 365 V3 comes with a large reduction in backup times, writes Storage Review. The company itself states that backups for SharePoint Online and OneDrive for Business are up to 30 times faster than previous versions. The main reason for this acceleration is the integration with the native Change API for Microsoft Office 365.

In addition, Backup for Microsoft Office 365 V3 receives data protection reports, which make it possible to identify unsecured mailboxes of Office 365 users. It also makes it possible to manage license and storage usage. The reports are available via the user interface, as well as via PowerShell and RESTful API. Finally, version three comes with support for multi-factor authentication.

The new version of Backup for Microsoft Office 365 is available immediately with an annual subscription of one to five years.

Investment

At the beginning of this year, Veeam announced that it had raised 500 million dollars in investments. This makes it the largest financing round of a startup since last summer. The financing round was led by Insight Venture Partners. In addition, the Canada Pension Plan Investment Board invested.

The company now has an annual turnover of just under a billion dollars. For this year, the company expects a cash flow of 300 million dollars and a profit of 100 million dollars after tax. The company had previously thought of an IPO, but it has been postponed indefinitely. With the financing round, the company claims to have been given the freedom and flexibility not to go on the stock exchange.