Data specialist Veeam is now worth considerably more thanks to the sale of shares.

Veeam is dedicated to data protection, from backup to disaster recovery and data management. The company currently has $1.7 billion in recurring revenue from 550,000 customers.

Now, it has announced that several new investors are joining. TPG is the most significant new investor, but others include Temasek, Neuberger Bergman Capital Solutions, and others.

Together, they are acquiring two billion dollars worth of shares from the main shareholder, Insight Partners.

So, there is no new investment in the company, but because the shares are acquired at a specific value, Veeam’s value has now risen to 15 billion dollars.