AvePoint Announces General Availability of Cloud Backup Express

Rhea-AI Summary

AvePoint (Nasdaq: AVPT) has announced the general availability of Cloud Backup Express, a data protection solution using Microsoft 365 Backup Storage. This new offering provides:

• 20x faster data backup and recovery than traditional cloud backup
• Advanced in-product integrations with Microsoft 365 Backup Storage
• Comprehensive security and compliance features
• Multi-cloud security framework for protecting various enterprise workloads

The solution addresses growing concerns about data privacy and security in AI implementation. AvePoint's CTO, John Peluso, emphasizes the importance of data protection, classification, and governance in today's business environment. The company's partnership with Microsoft has been further strengthened, with AvePoint earning its sixth global Microsoft Partner of the Year award.

Positive

• Launch of Cloud Backup Express, offering 20x faster data backup and recovery
• Advanced integration with Microsoft 365 Backup Storage as a launch partner
• Comprehensive security and compliance features for data protection
• Multi-cloud security framework supporting various enterprise workloads
• Earned sixth global Microsoft Partner of the Year award

Negative

• None.

Insights

Tech Expert

AvePoint's release of Cloud Backup Express marks a significant leap in data protection technology for Microsoft 365 users. The integration with Microsoft 365 Backup Storage is a game-changer, offering 20x faster backup and recovery speeds compared to traditional cloud backup solutions. This dramatic improvement addresses a critical pain point for enterprises: minimizing downtime during data restoration.

The advanced in-product integrations, being among the first to leverage Microsoft 365 Backup Storage, position AvePoint at the forefront of this technology. This early-mover advantage could translate into increased market share and customer trust. The seamless integration within Microsoft's security boundary is particularly appealing for organizations already invested in the Microsoft ecosystem, potentially lowering barriers to adoption.

AvePoint's multi-cloud security framework is a strategic response to the growing trend of multi-cloud adoption, with 89% of organizations using multiple cloud services. By offering protection across platforms like Microsoft 365, Google Workspace and Salesforce, AvePoint is positioning itself as a one-stop solution for enterprise data protection, aligning with Gartner's recommendation for consolidated security providers.

The emphasis on AI-readiness is timely, considering the 71% of respondents in AvePoint's survey expressing concerns about data privacy and security in AI implementation. This focus could give AvePoint an edge as organizations increasingly look to integrate AI into their operations while maintaining robust data protection.

Financial Analyst

The launch of Cloud Backup Express represents a potential revenue catalyst for AvePoint (NASDAQ: AVPT). By leveraging Microsoft 365 Backup Storage, AvePoint is tapping into a vast existing customer base, which could accelerate adoption rates and drive top-line growth. The enhanced speed and efficiency of the new solution may also lead to improved customer retention and upselling opportunities.

AvePoint's partnership with Microsoft, evidenced by their sixth global Microsoft Partner of the Year award, strengthens their market position and could lead to preferential access to Microsoft's enterprise customers. This symbiotic relationship may result in reduced customer acquisition costs and higher profit margins for AvePoint.

The multi-cloud security framework addresses a growing market need, potentially expanding AvePoint's total addressable market. With organizations increasingly adopting multi-cloud strategies, AvePoint's comprehensive solution could drive cross-selling opportunities and increase average revenue per customer.

Investors should note that while the product launch is promising, its impact on financial performance may take time to materialize. The company's ability to execute on this opportunity, manage implementation costs and effectively market the solution will be important factors to monitor in upcoming quarterly reports.

Given the critical nature of data protection in today's digital economy, AvePoint's enhanced offering could position the company for long-term growth in the expanding data management and governance market. However, investors should also consider the competitive landscape and potential for margin pressure in this rapidly evolving sector.

Using Microsoft 365 Backup Storage, AvePoint Cloud Backup Express delivers accelerated, secure data protection for all organizations

JERSEY CITY, N.J., July 31, 2024 (GLOBE NEWSWIRE) -- AvePoint (Nasdaq: AVPT), a global leader in data management and data governance, today announced the general availability of AvePoint Cloud Backup Express, designed to use Microsoft 365 Backup Storage for rapid and more efficient data protection.

With Cloud Backup Express, organizations can achieve high levels of data protection, including:

• Exceptional Speed and Performance: With Microsoft 365 Backup Storage, AvePoint provides data backup and recovery twenty times faster than traditional cloud backup, ensuring minimal disruption and swift restoration of your critical data.
• Advanced In-Product Integrations: As a Microsoft launch partner for Microsoft 365 Backup Storage, AvePoint is among the first companies to feature advanced in-product integrations with Microsoft 365 Backup Storage, providing seamless protection and management within the trusted Microsoft security boundary.
• Comprehensive Security and Compliance: In an era of rising ransomware attacks and security threats, AvePoint offers robust security measures and compliance features – including granular app-aware recovery from secure data copies both inside and outside of the Microsoft ecosystem – to ensure data remains safe and meets regulatory requirements.
• Multi-Cloud Security Framework: With 89% of organizations adopting a multi-cloud approach, Gartner recommends selecting one technology provider that can protect all enterprise workloads and systems. Cloud Backup Express is integrated in the AvePoint Confidence Platform, enabling organizations to protect and optimize all enterprise data when using multi-cloud sources such as Microsoft 365, Google Workspace, Salesforce, and others, enabling secure and efficient collaboration across their entire digital workplace environment.

“Data protection is crucial in the age of AI, with 71 percent of respondents in our AI and Information Management Survey stating that data privacy and security are top concerns when considering AI implementation,” said John Peluso, Chief Technology Officer, AvePoint. “Organizations must ensure their data is not only protected and easily recoverable, but also classified and governed according to their policies and regulations. With Cloud Backup Express, AvePoint now offers our customers a comprehensive solution that combines speed, security, and compliance, keeping their businesses resilient and secure.”

With Microsoft 365 Backup Storage, AvePoint bridges the gap between the agility and scalability of SaaS with the demanding recovery point and recovery time objectives that users expect only from on-premises or fully controlled workloads. This enhancement further extends AvePoint’s scope for resilient and secure data protection, recently recognized by industry research firms including Gartner’s Go Beyond Baseline Controls to Secure Copilot for Microsoft 365 and Forrester’s Top 7 Components of Data Resilience in a Hybrid Cloud World.

“AvePoint's integration marks a substantial progression in assisting our mutual customers with rapid operational recovery following cyberattacks. We're pleased to extend our relationship and enhance the resilience of customer data,” stated Zach Rosenfield, Partner Director of Product Management, Collaborative Apps and Platforms at Microsoft.

As part of its ongoing partnership with Microsoft, AvePoint recently earned its sixth global Microsoft Partner of the Year award, adding to two regional Microsoft Singapore Partner of the Year awards won last year, and is a SharePoint Embedded launch partner for AvePoint Confide. To learn more about AvePoint’s over 20-year partnership with Microsoft, please visit the Microsoft Alliance page.

For more information about Cloud Backup Express, sign up for our August 28^th webinar, Redefining SaaS Data Protection, featuring AvePoint Chief Technology Officer John Peluso and Microsoft Principal Product Manager Wayne Ewington.

About AvePoint
Securing the Future. AvePoint is a global leader in data management and data governance, and over 21,000 customers worldwide rely on our solutions to secure the digital workplace across Microsoft, Google, Salesforce and other cloud environments. AvePoint's global 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 www.avepoint.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K and its registration statement on Form S-1 and related prospectus and prospectus supplements filed with the SEC. Copies of these and other documents filed by AvePoint from time to time are available on the SEC’s website, www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations. Unless the context otherwise indicates, references in this press release to the terms “AvePoint”, “the Company”, “we”, “our” and “us” refer to AvePoint, Inc. and its subsidiaries.

Disclosure Information
AvePoint uses the https://ir.avepoint.com/ website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Investor Contact
AvePoint
Jamie Arestia
ir@avepoint.com 
(551) 220-5654

Media Contact
AvePoint
Nicole Caci
pr@avepoint.com 
(201) 201-8143

FAQ

What is AvePoint's new product Cloud Backup Express (AVPT)?

Cloud Backup Express is AvePoint's new data protection solution that uses Microsoft 365 Backup Storage to provide faster, more efficient, and secure data backup and recovery for organizations.

How much faster is AvePoint's Cloud Backup Express (AVPT) compared to traditional cloud backup?

AvePoint's Cloud Backup Express provides data backup and recovery twenty times faster than traditional cloud backup solutions.

What are the key features of AvePoint's Cloud Backup Express (AVPT)?

Key features include exceptional speed and performance, advanced in-product integrations with Microsoft 365 Backup Storage, comprehensive security and compliance measures, and a multi-cloud security framework.

How does AvePoint's Cloud Backup Express (AVPT) address AI-related data concerns?

Cloud Backup Express addresses concerns about data privacy and security in AI implementation by ensuring data is protected, easily recoverable, classified, and governed according to policies and regulations.