In a blow to Slack, AvePoint secures $200M in funding to help move more customers to Microsoft Teams

There’s no doubt that Microsoft Teams is picking up steam when compared to Slack, but the competition might have just gotten a bit rougher for Slack. Microsoft Partner AvePoint recently announced that it raised $200 Million in funding to help businesses and enterprises running Slack move to Microsoft Teams.

According to a report from Business Insider, AvePoint attributed the “bright future” of Teams for a reason to raise the funding, led by TPG Sixth Street Partners. AvePoint is actually a Microsoft Global ISV Partner, and in its own press release, states that it is seeing an “outstanding growth driven by the rise in adoption of Office 365 and other cloud office solutions.” The company also claims that over 7 million cloud users and 16,000 large enterprises across all seven continents already use its software to help move from traditional services like Google G Suite to Office 365, and Slack to Teams.

Tianyi Jiang, co-founder, and co-CEO of AvePoint, reflected on this in a statement seen in Business Insider.

“Once you start using [Teams], you have hundreds, if not thousands of teams populating everywhere and it becomes unmanageable. “So we’re able to…handle all of that, essentially automate all of that and give companies that governance and control, so in return, we’re increasing significant Teams adoption”

Jiang also tells Business Insider that AvePoint is trying to help customers get the most out of Teams. With the new funding, AvePoint is hoping to add 40,000 more customers through its channels. That’s a lot of users, and Slack might just have to watch its back.