The equity investment led by TPG Sixth Street Partners is intended to accelerate AvePoint’s channel offerings growth.
More than 7 million cloud users and 16,000 large enterprises across the globe use AvePoint software and services for their data management, protection and migration needs.
With the newly raised funding, AvePoint intends to accelerate its growth and investment into its channel offerings that provide 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 three years.
“We want to be the go-to Office 365 value-add solution for MSPs, the first tool they know will help them both increase their monthly recurring revenue and better service their customers,” said Scott Sacket, senior vice president of channel strategy at AvePoint. “This investment will help us raise the visibility of AvePoint and our Elements division in the channel, but more importantly, it will allow us to invest in every aspect critical to supporting the success of our channel partners.”
Currently, MSPs can buy AvePoint solutions from a range of distribution partners such as 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 at AvePoint, in the press release announcing the funding. “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.
Automated Customer Experience Platform Ada Bolsters CCaaS Business in Channel
The 20 MSP Adds 2 More Companies, Part of Multiyear Growth Plan
No VMware Price Increases, SMB Neglect, Broadcom CEO Vows
Infoblox Rolls Out New Skilled to Secure Partner Program
Motivating Contact Center Agents with Gamification
Benioff Now Sole Salesforce CEO as 3rd Quarter Proves Strong
2023 Is the Remote Work Era
UK MSPs Face Strict New Cyber Regulations
Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.