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AvePoint Announces $200 Million Equity Investment Led by TPG Sixth Street Partners
Investment announced as leading third-party Office 365 data management SaaS provider books four consecutive quarters of record revenue growth
Jersey City, New Jersey — January 8, 2020 —AvePoint, the leading provider of data governance, protection and migration solutions for Office 365 and SharePoint, today 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 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 is also the only scaled vendor that provides Microsoft Teams backup solutions as well as Slack to Teams migration solutions and services.
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 partnersincluding 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.
“Through its investment in innovation and reputation for reliability, AvePoint has positioned itself to take advantage of the tremendous opportunities presented by the rapid and widespread adoption of cloud office solutions,” said Mr. McGinn. “We look forward to partnering with their senior leadership as they continue their focus on meeting their customers’ needs and driving the company towards its next phase of growth.”
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.
À propos d'AvePoint
AvePoint permet aux clients de collaborer en toute confiance. Les solutions de gestion des données d'AvePoint aident sa clientèle mondiale diversifiée à surmonter les défis complexes de transformation, de gouvernance et de conformité dans le cloud Microsoft. Cinq fois lauréat du prix Microsoft Partner de l'année, AvePoint propose la seule suite complète de solutions SaaS pour migrer, gérer et protéger les données dans Microsoft 365.
Plus de 9 millions d'utilisateurs du cloud, dont un quart des Fortune 500, comptent sur les solutions d'AvePoint. Les solutions SaaS d'AvePoint sont également disponibles pour les fournisseurs de services, afin qu'ils puissent mieux soutenir et gérer leurs petites et moyennes entreprises.
Ses solutions multi-utilisateurs sont disponibles auprès de plus d'une douzaine de distributeurs sur plus de 100 marchés cloud dans le monde.
Fondé en 2001, AvePoint se situe à Jersey City, New York. Pour plus d'informations, visitez le site https://www.avepoint.com/fr/.
TPG Sixth Street Partners
TPG Sixth Street Partners ("Sixth Street") is a global finance and investment business with over $33 billion in assets under management and TSSP Capital Solutions (“Capital Solutions”) is its dedicated growth investing platform. Capital Solutions makes customized, non-control private investments in growth-oriented companies. The team partners with companies and management teams to provide bespoke, accretive financing solutions that often fall between traditional growth equity and commercial debt. Sixth Street has invested over $3 billion in more than 35 growth-oriented companies in its Capital Solutions strategy since inception. Select current and past representative Capital Solutions investments include AirTrunk, AvidXchange, Gainsight, Kyriba, Lucidworks, Paycor, PayScale, PaySimple and Spotify. For more information, visit www.tssp.com/tcs.
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