AvePoint - SharePoint Backup and Administration SoftwareAvePoint Receives Investment from Summit Partners
Global provider of enterprise data backup, archiving, disaster recovery, and auditing solutions for the Microsoft SharePoint market positioned for
next stage of growth
AvePoint, Inc., a provider of award-winning, enterprise-strength backup software solutions for the Microsoft SharePoint Enterprise Portal market, today announced that it has received an equity investment from Summit Partners, a private equity and venture capital firm with a capital base of nearly $9 billion.
AvePoint is the recognized market leader in SharePoint item-level backup, archiving, disaster recovery, and auditing solutions. The company has more than 1,000 customers -- many of them Fortune 500 companies -- throughout the world. AvePoint is a Microsoft Gold Certified Partner that has experienced triple-digit growth for four consecutive years.
Founded in 1998 and privately owned, the New Jersey-based company serves an international customer base across North and South America, Europe, Australia, Asia, and Africa. AvePoint has an expansive global network of leading software resellers and partners, as well as a research and development center in ChangChun, China.
Tom Jennings, Principal, Summit Partners, will serve on AvePoint’s Board of Directors. “AvePoint exemplifies the type of top-quality company that Summit seeks as a partner,” said Mr. Jennings. “AvePoint has served its customers extraordinarily well and become a rapidly growing, wellmanaged, profitable company. Based on Summit Partners’ 22 years of investment experience in software-related businesses, we believe this is an exceptional organization.”
“We are very pleased to join up with Summit Partners,” said Xunkai (“Kai”) Gong, co-founder and CEO of AvePoint. “Summit has invaluable experience in infrastructure software company investments, and will help us continue to grow and strengthen our business worldwide.”
Tianyi (“TJ”) Jiang, co-founder and COO of AvePoint added, “We didn’t need to raise capital, but chose to bring Summit on as an investment partner as we believe that their involvement will help accelerate our growth.”
Terms of this investment have not been disclosed.
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AvePoint specializes in enterprise-strength backup, archiving, disaster recovery, and auditing software solutions based on Microsoft SharePoint Products and Technologies and Windows Project Server. DocAve, the company’s award-winning platform, provides SharePoint administrators with essential tools and solutions to properly manage their SharePoint operations. Today, with over 1,000 customers throughout the world, many of them Global 1000 companies, AvePoint has become the market and technology leader in SharePoint-based backup and data management solutions.
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Summit Partners is a private equity and venture capital firm with offices in Boston, Palo Alto, and London. Formed in 1984, the firm has raised nearly $9 billion in capital in its private equity, venture capital, and subordinated debt funds. Summit has provided growth equity, recapitalization, and management buyout financing to more than 280 companies, which have completed more than 120 public offerings and in excess of 100 strategic mergers or sales. Summit Partners seeks outstanding management teams that have self-financed their companies to profitability and market leadership in a broad range of growth industries. Previous notable Summit investments in the software sector include McAfee, OPNET Technologies, RightNow Technologies, Sybari Software, Inc., and Unica Corporation. The business of Summit Partners in the UK is regulated by the Financial Services Authority. In the U.S., Summit Partners operates as an SEC-registered investment adviser. This document is
intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.
AvePoint, Inc., a provider of award-winning, enterprise-strength backup software solutions for the Microsoft SharePoint Enterprise Portal market, today announced that it has received an equity investment from Summit Partners, a private equity and venture capital firm with a capital base of nearly $9 billion.
AvePoint is the recognized market leader in SharePoint item-level backup, archiving, disaster recovery, and auditing solutions. The company has more than 1,000 customers -- many of them Fortune 500 companies -- throughout the world. AvePoint is a Microsoft Gold Certified Partner that has experienced triple-digit growth for four consecutive years.
Founded in 1998 and privately owned, the New Jersey-based company serves an international customer base across North and South America, Europe, Australia, Asia, and Africa. AvePoint has an expansive global network of leading software resellers and partners, as well as a research and development center in ChangChun, China.
Tom Jennings, Principal, Summit Partners, will serve on AvePoint’s Board of Directors. “AvePoint exemplifies the type of top-quality company that Summit seeks as a partner,” said Mr. Jennings. “AvePoint has served its customers extraordinarily well and become a rapidly growing, wellmanaged, profitable company. Based on Summit Partners’ 22 years of investment experience in software-related businesses, we believe this is an exceptional organization.”
“We are very pleased to join up with Summit Partners,” said Xunkai (“Kai”) Gong, co-founder and CEO of AvePoint. “Summit has invaluable experience in infrastructure software company investments, and will help us continue to grow and strengthen our business worldwide.”
Tianyi (“TJ”) Jiang, co-founder and COO of AvePoint added, “We didn’t need to raise capital, but chose to bring Summit on as an investment partner as we believe that their involvement will help accelerate our growth.”
Terms of this investment have not been disclosed.
