AvePoint, a provider of data governance, protection and migration solutions for Office 365 and SharePoint, announced approximately $200 million in commitments from new minority equity investors to fuel its global growth and expansion, as well as partially recapitalize long-term shareholders. The capital raise was led by a substantial Series C Preferred Equity investment from TPG Sixth Street Partners with additional participation from both new and existing investors, including Goldman Sachs.
AvePoint plans to use its latest round of funding to accelerate its growth and investment into its channel offerings that provide managed service providers (MSPs) the tools to better migrate, manage and protect the Office 365 environments of their small and medium business clients. AvePoint aims to add more than 40,000 customers through the channel in the next two years.
MSPs can currently purchase AvePoint solutions from a wide variety of distribution partners including Synnex, TechData, and Intcomex. In July 2019, global distributor Ingram Micro announced AvePoint as its exclusive migration and backup solution provider as part of its Modern Workplace Accelerate program.
“A huge driver of our growth has been our own digital transformation into a majority SaaS solution company,” said Tianyi Jiang, co-founder and co-CEO, AvePoint. “We have invested in our cloud platform to ensure that we have the scale, pace of innovation, API extensibility and security to meet our customer’s demands. This strategic focus has played a large role in delivering four consecutive quarters of record revenue growth in 2019.”
The senior management team, including co-founders and co-CEOs Kai Gong and Tianyi Jiang, will continue to lead the company. Michael McGinn, Partner and Co-Head of Capital Solutions at TPG Sixth Street Partners, will join AvePoint’s board of directors.
AvePoint continues to experience outstanding growth driven by the rise in adoption of Office 365 and other cloud office solutions. AvePoint’s most popular solution, Cloud Governance, helps organizations better govern and secure Microsoft Teams, the fastest growing business application in Microsoft’s history. The company also provides Microsoft Teams backup solutions as well as Slack to Teams migration solutions and services. Today, more than 7 million cloud users and 16,000 large enterprises across all seven continents trust AvePoint software and services for their data management, protection and migration, needs.
AvePoint employs more than 1,500 people with offices in the United States, United Kingdom, Germany, France, Singapore, Australia, Netherlands, China, Japan, Philippines and more.
