Veeam Software Taps Former RingCentral Exec as CEO

(Bloomberg) -- Veeam Software Corp., a closely held maker of data protection and backup software, appointed former RingCentral Inc. executive Anand Eswaran as chief executive officer.

Veeam’s journey “is going to have a similar thread to all of my past experiences,” Eswaran said. “We are the No. 1 market share leader in Europe. We have an opportunity to get there pretty quickly in the U.S. as well.”

Prior to joining Veeam, Eswaran was the chief operating officer at RingCentral. He replaces CEO Bill Largent, who will remain Veeam’s board chairman.

Veeam was purchased by private equity firm Insight Partners in 2020 for an undisclosed price. The company, in a statement Thursday announcing Eswaran’s appointment, said it had more than $1 billion in annual recurring revenue in 2021. The new CEO said Veeam is well on the path to an initial public offering.

“The company’s already been on a process of IPO readiness,” Eswaran said. “There’s no more check boxes needed to take the company public.”

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