Data resiliance company Veeam wants to give its customers more control and security over their data in the age of AI.
The Kirkland, Washington-based company announced on Tuesday that it has signed a definitive agreement to acquire Securiti AI, a company that gives enterprises a command center for all of their data. The $1.725 billion deal is a mix of cash and stock and is expected to close the first week of December, as first reported by Bloomberg.
Securiti was founded in 2019 by Rehan Jalil. The company raised more than $156 million in venture capital from investors including Mayfield, General Catalyst and Cisco Investments, among others.
Upon the close of the transaction, the Insight Partners-owned Veeam will offer Securiti’s data command center product alongside its existing offerings. Jalil will join Veeam as the president of security and AI.
“We’ve entered a new era for data. It’s no longer about just protecting data from cyber threats and unforeseen disasters; it’s also about identifying all your data, ensuring it’s governed and trusted to power AI transparently,” Anand Eswaran, Veeam CEO, said in a company press release.
Veeam closed a $2 billion secondary sale in December 2024 that valued the company at $15 billion. At the time, Eswaran said that one of the company’s plans for 2025 was to find acquisition targets that were complimentary to the company’s data resilience business.
This acquisition news comes amid a year of consolidation in the data industry as data companies are getting bought to help companies improve their data stack to help their clients adopt AI.
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In May, Databricks acquired Neon for $1 billion. Salesforce acquired legacy cloud data management platform Informatica a few weeks later for $8 billion.
While these transactions have become less frequent now, than they were in the first half of the year, they seem likely to continue. In June, Sanjeev Mohan, a former Gartner analyst who now runs SanjMo, a data trend advisory firm, told TechCrunch that there would be a lot of consolidation this year.
He said that customers have long been tired of having to use a laundry list of different data companies to build their data infrastructure stack. The fact that enterprises want to adopt AI has made this data fragmentation more apparent.
Mohan added that any good data startup that’s not getting acquired in this environment is likely just too expensive.
