While Microsoft cloud services such as SharePoint, Microsoft Teams and Office 365 are used widely by large organizations, the products don’t come standard with an enterprise-grade control layer. That’s where AvePoint, a Microsoft independent software (ISV), comes in. Today, the company announced a $200 million Series C investment.
The round was led by TPG Sixth Street Partners with additional participation from prior investor Goldman Sachs and other unnamed investors. The round brings the total raised to $294 million, according to the company.
The company says that the equity investment has a couple of purposes. First of all it wants to provide some liquidity for long-time investors. Secondly, it wants capital for company expansion.
Specifically, it provides a set of governance and migration services for Microsoft