The ability to share data and collaborate efficiently and safely has never been more important than during the pandemic, when many office workers sitting behind computer screens in their homes — outside the cocoon of IT protection. All of which was good for AvePoint, a Jersey City-based data management solutions provider for the Microsoft cloud.
After it started trading on July 2 through a SPAC merger, AvePoint became one of only eight public technology companies with at least $150 million in annual revenue growing at more than 25% with a 10% EBITDA margin. Not bad for a company that started 20 years ago with two coders working in a New Jersey library.
For the latest edition of NJBIZ Conversations, Editor Jeff Kanige spoke AvePoint CEO TJ Jiang about the company’s deal with Apex Technology Acquisition Corp., cybersecurity threats and what how the business will evolve.
“We are a typical New Jersey conservative company. We built this business with just $60 million in primary capital and no debt. But it did take us 20 years to get here,” he said. “So we want to move much, much faster, because we have a first mover advantage in cloud, we also have a platform advantage. Today we have over 25% of the Fortune 500 as our clientele, but we want to obviously go after the much bigger market very, very quickly so we’re investing aggressively.”