Veritas Technologies was a global data protection, backup, and information management software company headquartered in Santa Clara, California. The company traces its roots to Tolerant Systems (founded 1983), later renamed Veritas Software, which was acquired by Symantec in 2005 for $13.2 billion. Symantec spun out Veritas as an independent company in January 2016 in an $8 billion buyout led by The Carlyle Group. Veritas served large enterprises with its NetBackup, InfoScale, Backup Exec, and data compliance product lines, protecting over 85 of the Fortune 100. In February 2024, Veritas announced it would combine its enterprise data protection business with Cohesity to form a new $7 billion data security and management leader; the merger closed in December 2024. The remaining Veritas businesses (InfoScale, Backup Exec, Data Compliance) were spun out as Arctera, which continues under Carlyle ownership.
Veritas Technologies has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
1983
Employees
5,000–10,000
Total Funding
$8B
1 rounds
Latest Valuation
$8B
January 29, 2016
Total raised $8B across 1 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 05-21-2026
Latest Round
Type
Buyout / LBO
Date
January 29, 2016
Amount
$8B
Valuation
$8B
Lead Investors
Greg Hughes
Former Chief Executive Officer
Sanjay Poonen
CEO of combined Cohesity NewCo (post-merger)
Lawrence Wong
CEO of Arctera (Veritas spinoff)
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Cohesity
AI-powered data security and management company; merged with Veritas' enterprise data protection business in December 2024.
Rubrik
Cloud data security and backup company; IPO'd on NYSE (RBRK) in April 2024.
Commvault
Public enterprise data protection and cyber resilience software vendor.
Veeam Software
Privately held data protection and ransomware recovery software leader, owned by Insight Partners.
Dell Technologies (Data Protection)
Dell PowerProtect / Data Domain enterprise backup and data protection portfolio.
Arctera
Carlyle-owned spinoff from the Veritas-Cohesity merger holding the InfoScale, Backup Exec, and Data Compliance product lines.
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