AvePoint Launches Confide, a Virtual Data Room to Power Highly Secure Digital Collaboration

Rhea-AI Summary

AvePoint (NASDAQ: AVPT) has launched Confide, an innovative virtual data room designed to enhance data security for businesses without compromising efficiency. Confide is fully integrated with Microsoft 365, enabling seamless collaboration for sensitive projects like mergers and acquisitions. Key features include an intuitive setup, robust governance for project permissions, and real-time insights into document activity. This product aims to empower business leaders while reducing the burden on IT teams. AvePoint also introduced Fly, a cloud migration tool.

Positive

• Launch of Confide enhances data security for sensitive projects.
• Confide's integration with Microsoft 365 simplifies user experience.
• Robust governance enables full control over project-specific permissions.

Negative

• None.

New product addresses the growing need to protect sensitive data, without sacrificing efficiency

JERSEY CITY, N.J., Jan. 19, 2022 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ: AVPT), the most advanced SaaS and data management platform provider, today launched Confide, a virtual data room to help businesses manage sensitive data needs, and collaborate with greater confidence. Confide is the only virtual data room fully integrated with Microsoft 365, and hosted on the end-user cloud tenant, providing optimal security and initiation efficiency.

Confide enables businesses to seamlessly work with both internal and external actors, without the concern of data breaches, accidental exposure, and costly mistakes, especially when engaging in highly confidential projects like mergers and acquisitions, financial audits, intellectual property, and executive collaboration. Powered by the same technology behind AvePoint's IT products, Confide provides the following for business leaders:

• Simple Setup: Instead of tasking IT with building a new secure workspace, which can slow down business-critical decisions, Confide empowers business leaders to build their projects intuitively and safely. Seamless integration with Microsoft 365 not only provides familiar user-experience, but it also reduces the number of SaaS solutions required for work.
• Robust Governance: Business leaders can apply and control granular, project-specific permissions that allow full control and transparency across the sensitive project lifecycle. Additionally, secure, in-line communication and task management ensures all discussions occur, and data exists, within the project, as opposed to in email or external chats.
• Real Time Insights and Intelligence: To manage activity within projects, business leaders have centralized access to analytics that show document viewership, editing status, and permissions.
  

"The importance of securing all business data has never been clearer than in the past two years, against the backdrop of record volume of data breaches, enterprises continuing to amass business data exponentially into Cloud, and more sensitive activities like M&A occurring across the board,” said Dr. Tianyi Jiang (TJ), CEO and Co-Founder, AvePoint. “By equipping business leaders with the same enterprise-grade security functionality we’ve provided IT for years, we continue our commitment securing digital collaboration, which has grown both in scope and importance.”

Unlike other virtual data rooms, Confide is an application where all uploaded data is securely stored within the organization’s own Office 365 tenant. Additionally, Confide was designed to intentionally restrict IT admin access, and only grant access to the business leaders within the organization who should be privy to such sensitive information. This is different from other forms of private channels that exist within Microsoft Teams, Slack or Google Workspace, for example.

“For highly sensitive projects, business leaders should be the ones to control, build, govern and protect that data,” said John Peluso, Chief Product Officer, AvePoint. “AvePoint has always aimed to improve IT operations, and as a result of empowering business leaders through Confide, we can reduce strain on IT teams and enable them to focus on other priorities.”

As part of its commitment to helping businesses collaborate with confidence, AvePoint also launched Fly, its cloud migration product, as a SaaS solution. Now, in addition to migrating from on-prem to the cloud, or from cloud to cloud as a one-time project, Fly can be used to support migrations due to M&A activity or further digital transformation.

To learn more about Confide, attend the virtual launch event on Thursday, January 20^th at 11am EST, or visit www.confide.me.

About AvePoint  
Collaborate with confidence. AvePoint provides the most advanced platform for SaaS and data management to optimize SaaS operations and secure collaboration. More than 8 million cloud users rely on our solutions. Our SaaS solutions are also available to managed service providers via more than 100 cloud marketplaces, so they can better support and manage their small and mid-sized business customers. Founded in 2001, AvePoint is a five-time Global Microsoft Partner of the Year and headquartered in Jersey City, New Jersey. For more information, visit https://www.avepoint.com.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 or otherwise, including with respect to AvePoint’s Confide and Fly products and services. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are, by their nature, subject to significant risks and uncertainties and are based on the beliefs of AvePoint’s management as well as assumptions made by and information currently available to AvePoint’s management. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of AvePoint including those set forth in the Risk Factors section of AvePoint 's most recent Quarterly Report on Form 10-Q 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. AvePoint undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contact
Nicole Caci
AvePoint
Nicole.caci@avepoint.com
201-201-8143

FAQ

What is Confide by AvePoint and how does it enhance data security for AVPT?

Confide is a virtual data room launched by AvePoint to enhance data security and collaboration for sensitive projects, integrating seamlessly with Microsoft 365.

When was Confide launched by AvePoint?

Confide was launched on January 19, 2022.

How does Confide differ from other virtual data rooms in relation to AVPT?

Confide stores uploaded data within the organization's Office 365 tenant, restricting IT admin access and ensuring business leaders control sensitive information.

What key features does Confide offer for business leaders?

Confide provides simple setup, robust governance for project permissions, and real-time insights on document activity.

What other product was launched alongside Confide by AvePoint?

AvePoint also launched Fly, a cloud migration product that supports migrations due to M&A activity and digital transformation.