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

AvePoint (NASDAQ: AVPT), the global leader in data security, governance, and resilience, 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.

Today, more than 21,000 customers worldwide and 16,000 large enterprises across all seven continents trust AvePoint software and services for their data management, protection and migration, needs.

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.

“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.

About AvePoint

Securing the Future. AvePoint is a global leader in data security, governance, and resilience, and over 21,000 customers worldwide rely on our solutions to modernize the digital workplace across Microsoft, Google, Salesforce and other collaboration environments. AvePoint’s global channel partner program includes over 3,500 managed service providers, value added resellers and systems integrators, with our solutions available in more than 100 cloud marketplaces. To learn more, visit https://www.avepoint.com.

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.