New Jersey-based AvePoint has announced that it has raised $200 million in investments from minority equity investors. The fresh funding is bound to help the company fuel its global growth aspirations and expansion. The round was led by TPG Sixth Street Partners. The round saw the participation of existing investors including Goldman Sachs.
AvePoint’s software is trusted by over 7 million cloud users and 16,000 large enterprises across all seven continents for their data management, migration and protection needs. The company has done well in recent times especially due to the rise in the adoption of Office 365 and other cloud office solutions. The company is the only scaled vendor that provides Microsoft Teams backup solutions as well as Slack to Teams migration solutions and services. It employs more than 1,500 people with offices in the U.S., the UK, Germany, France, Singapore, Australia, China, Japan, Philippines, Netherlands and more.
“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.”
Cloud Governance by AvePoint is a popular solution as it helps organizations better govern and secure Microsoft Teams. It is the fastest-growing business application in Microsoft’s history.