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Veeam to Acquire Securiti AI for $1.73 Billion to Strengthen Cloud Data and AI Security

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Veeam Software announced on Tuesday that it will acquire Securiti AI for about $1.73 billion, a major deal aimed at enhancing data protection and governance across cloud and AI applications. The acquisition combines Veeam’s backup and recovery software with Securiti’s Data Command Center, a platform designed to unify, secure, and manage sensitive data spread across multiple cloud environments.

The move positions Veeam to better compete with Rubrik and Commvault Systems, as organizations increasingly demand integrated solutions that address both cybersecurity resilience and AI data governance. With cyberattacks and ransomware incidents on the rise, Veeam aims to strengthen its foothold in the fast-growing market for secure cloud data management.

Following the acquisition, Securiti AI CEO Rehan Jalil will join Veeam as President of Security and AI, reflecting the company’s commitment to embedding data protection more deeply into its products. The deal, expected to close in the fourth quarter, was supported by Morgan Stanley, which advised Securiti AI, while JPMorgan provided financing for Veeam.

Veeam said it will continue to offer Securiti’s flagship Data Command Center while developing new integrated capabilities. The acquisition follows a period of significant valuation growth for Veeam: private equity firm Insight Partners, its largest shareholder, sold a $2 billion stake in 2023, valuing the company at $15 billion, up from its $5 billion acquisition price in 2020.

Veeam’s software is widely used to protect enterprise data from ransomware attacks and accidental loss, offering immutable backups that ensure recovery even when files are encrypted by hackers.

Databricks Hits $100 Billion Valuation with $1 Billion Raise, Projects $4 Billion Revenue

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Databricks, the San Francisco-based data analytics and AI firm, announced on Monday that it has closed a $1 billion Series K funding round at a $100 billion valuation, cementing its position as one of the world’s most valuable private companies.

The round was co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital, and WCM Investment Management. The fresh capital will fuel Databricks’ AI strategy, supporting new product launches, acquisitions, and advanced research.

The company revealed it is now on track to hit $4 billion in annualized revenue, with AI-related products contributing $1 billion. Its customer base has grown to around 15,000 clients, including Shell and Rivian, while its Lakebase data warehouse has already reached tens of millions in annualized revenue just months after launch.

CEO Ali Ghodsi said Databricks will remain cash-flow positive, keeping the option of an IPO open but without a fixed timeline. The company is also investing in Agent Bricks, its new AI platform for building autonomous systems, and recently acquired Tecton, a machine learning startup.

With net revenue retention above 140%, over 650 customers spending more than $1 million annually, and positive free cash flow, Databricks is positioning itself as a leader in the AI and big data race—and a likely candidate for one of the most anticipated IPOs in the sector.