AvePoint
 | |
| Company type | Public |
|---|---|
| Nasdaq: AVPT | |
| Industry | Computer software[1] |
| Founded | 2001 |
| Founder |
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| Headquarters | Jersey City, New Jersey, United States |
Key people |
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| Products |
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| Revenue |  $271.8 Million(2023)[2] |
Number of employees | ~2,650 (2024) |
| Website | |
AvePoint, Inc. is an independent software vendor of software as a service to migrate, manage and protect data in Microsoft 365.[3][4] AvePoint was founded in 2001 and is headquartered in Jersey City, New Jersey.
History
[edit]Early years: 2001–2014
[edit]The company was backed by investors Goldman Sachs and Summit Partners, which acquired minority stakes in AvePoint in 2014 and 2007, respectively.[5]
SaaS conversion and channel expansion: 2014–2020
[edit]In 2019, AvePoint expanded its support of Managed Service Providers and their small to medium sized customers via the channel with agreements with global distribution partners such as Ingram Micro, Synex Systems Corporation, Tech Data and others.[6] The company aims to add 40,000 managed service provider partners by 2022.[7]
In January, 2020 the company announced a $200 million Series C investment led by TPG Sixth Street Partners, with additional participation from prior investor Goldman Sachs and other unnamed investors. The round brought the total raised to $294 million to date.[8]
Initial public merger announcement and De-SPACing: November 2020 – July 2021
[edit]In November 2020, AvePoint reached a deal to go public through a merger with blank-check company Apex Technology Acquisition Corp.(APXT). The transaction valued AvePoint at $2 billion and kept AvePoint co-founders Tianyi Jiang and Kai Gong as CEO and Executive Chairman respectively. The new company will be named AvePoint and will trade on the Nasdaq Stock Market under the symbol AVPT once the deal closes in the first quarter of 2021.[3]
Public company: July 2021 – Present
[edit]On July 2, AvePoint became a public company listed on the Nasdaq under the ticker AVPT. AvePoint received approximately $492 million in gross proceeds, consisting of Apex's $352 million of cash held in trust following de minimis public stockholder redemptions and $140 million from an ordinary share private investment in public equity (PIPE), excluding transaction fees. The PIPE was anchored by investors including but not limited to Federated Hermes Kaufman Small Cap Fund, Franklin Templeton, Phoenix Insurance Limited and Singapore-based global investor EDBI.[9]
References
[edit]- ^ "The biggest risk corporations see in gen AI usage isn't hallucinations". CNBC. 16 May 2024.
- ^ "Q2 2024 Report".
- ^ a b "AvePoint Strikes Deal to Go Public Via Apex Technology SPAC". Bloomberg.com. 2020-11-23. Retrieved 2020-11-24.
- ^ "About". AvePoint. Retrieved 2020-11-17.
- ^ "Goldman Sachs to invest in AvePoint". Fortune. 2014. Retrieved 10 October 2014.
- ^ "Ingram Micro recruits AvePoint to drive Microsoft adoption". Channel Asia. Retrieved 2020-11-17.
- ^ "Meet AvePoint, the Microsoft ISV targeting 40,000 new channel logos". Channel Asia. Retrieved 2020-11-17.
- ^ "AvePoint lands $200M investment to expand market for Microsoft cloud governance tools". TechCrunch. 8 January 2020. Retrieved 2020-11-17.
- ^ "AvePoint Closes Business Combination; to Begin Trading on Nasdaq as "AVPT"" (Press release).