Switzerland’s Veeam raises $500 mln from U.S. Insight Venture, CPPIB

Swiss information technology company Veeam Software has received a $500 million investment from U.S. private equity firm Insight Venture Partners.

Insight Venture Partners made the commitment with participation from Canada Pension Plan Investment Board (CPPIB), a pension fund company.

Veeam will use the funds to advance the next phase of its development as a provider of data management solutions for the public and private cloud.

Moreso, Veeam Software will leverage Insight Onsite, the internal business strategy arm of Insight Venture Partners, and use the capital to boost its extension through both organic growth and mergers and acquisitions activities.