EDBI Named as One of Several New AvePoint, Inc. Investors as Company Moves Toward Public Listing
SINGAPORE, March 1, 2021 /PRNewswire/ -- AvePoint, Inc., one of the largest Microsoft 365 data management solutions providers, announced today the global launch of AvePoint EduTech.
The Singapore incorporated company will boast one of the first holistic SaaS education management systems directly integrated with Microsoft 365 for educational institutions and commercial businesses with training and accreditation needs.
The EduTech platform, consists of three complementary software-as-a-service solutions that use Microsoft 365 as their foundation:
"Higher education deserves better technology solutions. Exam solutions are simplistic; learning management solutions lack strong mobile-first, online collaboration functionality; and universities have been forced to patch together numerous disparate marketing tools to execute what should be simple student and alumni communication related tasks," said Dr. Tianyi Jiang, CEO and co-founder, AvePoint. "EduTech will disrupt this status quo by taking Microsoft 365 and combining it with some of the most advanced technologies all tailored to the needs of higher education. It really is a holistic education technology modernization-as-a-service offering."
"We believe the higher education model will change more in the next 5 years than it has in the last 100 years. COVID-19 has been a shock to a system that hasn't quite evolved from the physical classroom model of teaching and learning," said Annie Koh, Professor Emeritus of Finance at Singapore Management University and AvePoint EduTech Senior industry Advisor. "Even after the pandemic has passed, the institutes of higher learning that understand the future is in developing a modular, learn everywhere environment with rich online collaboration - they are the ones that will thrive."
"AvePoint is delivering transformation work in education technology. Their solution is an example of how learning can be enriched by shifting students, faculty and administrators from multiple, siloed legacy systems to a next-generation learning management system built on Microsoft 365," said Gerald Leo, Chief Partner Officer, Microsoft Singapore. "It can further serve as an industry IP that can be duplicated within the education sector and further expanded for use in other vertical industries."
AvePoint EduTech raised $11 million SGD from prominent Singaporean investors.
For more information visit: https://www.avepoint.com/edutech
EDBI invests in AvePoint, Inc. as it goes public
Last November, AvePoint, one of the largest Microsoft 365 data management solutions providers, announced it will become a publicly listed company on the NASDAQ stock exchange in a $2 billion USD transaction expected to close at the end of Q1 2021 or the beginning of Q2 2021.
The company also announced strong 2020 revenue and growth in its S-4 filing including full year total revenue expected in the range of $148 million to $151 million, up 29% year over year at the mid-point.
As a result, of 200 public cloud companies, AvePoint is one of only five with 2020 estimated revenue in the $150 million range, 2020 estimated year over year growth above 25% and 2020 estimated EBIT Margin over 10%.
"Going public will allow us to scale our key growth vectors which include channel marketing, customer success initiatives, international markets and product innovation," said Dr. Jiang. "In APAC, we see a great growth opportunity to both accelerate the digital transformation of organizations and launch new ventures such as EduTech from our presence in Singapore."
AvePoint aims to increase its penetration in the Asia Pacific region, with an emphasis on working with channel partners. AvePoint is investing into resources to support its channel goals as well as its partners from product to support. Much of this activity will be driven from the company's Singapore office.
AvePoint Inc also announced an investment by EDBI, a global Asian-based investor, to support its APAC expansion through Singapore. As one of the largest Microsoft 365 data management solutions providers and a five-time winner of the Global Microsoft Partner of the Year award, the company has been involved in some of the largest and most complex modern workplace implementations in Singapore, allowing more than 150 Singaporean organizations across critical industries such as finance, education, and government, to realize additional value from their Microsoft investments.
"AvePoint, with its innovative enterprise solutions, can help companies streamline data management and digital workplace collaboration towards greater productivity. We are pleased to support AvePoint as it expands its activities here in support of Singapore's digitalization effort, notably the development and deployment of new software tools to help redefine digital education in Singapore and the Asia Pacific region," said Chu Swee Yeok, CEO & President of EDBI.
About AvePoint
AvePoint enables you to collaborate with confidence. Our data management solutions help our diverse, global customer base overcome complex transformation, governance, and compliance challenges in the Microsoft cloud. A five-time winner of the Global Microsoft Partner of the Year award, AvePoint offers the only full suite of SaaS solutions to migrate, manage and protect data in Microsoft 365. More than 7 million cloud users, including a quarter of the Fortune 500, rely on our solutions. Our SaaS solutions are also available to managed service providers, so they can better support and manage their small and mid-sized business customers. Our multi-tenant solutions are available from over a dozen distributors in more than 100 cloud marketplaces worldwide. For more information, visit https://www.avepoint.com.
About EDBI
Investing since 1991, EDBI is a Singapore-based global investor in select high growth technology sectors ranging from Information & Communication Technology (ICT), Emerging Technology (ET), Healthcare (HC) and promising Singapore SMEs in strategic industries. As a value creating investor, EDBI assists companies achieve their ambitious goals by leveraging our broad network, resources and expertise. With our growth capital, EDBI supports companies seeking to expand in Asia and globally through Singapore. For more information, visit https://www.edbi.com.
Contact: Nicole Caci, nicole.caci@avepoint.com, 973-349-9637
