AvePoint Launches Ransomware Detection, Adding to its Robust Data Protection Capabilities

In addition to bolstering Cloud Backup with quick responses to suspicious M365 behavior, AvePoint debuts Ransomware Warranty to give businesses greater assurance they will be protected across multiple SaaS platforms

Jersey City, New Jersey, UNITED STATES

JERSEY CITY, N.J., March 08, 2022 (GLOBE NEWSWIRE) -- AvePoint (NASDAQ: AVPT), the most advanced SaaS and data management solutions provider, today announced the launch of Ransomware Detection, as part of Cloud Backup for Microsoft 365, to further protect digital collaboration data.

This new capability proactively detects suspicious behavior within users’ Microsoft OneDrive, while minimizing disruption to productivity and collaboration. After detecting unusual activity, Cloud Backup provides detailed reports to shorten the investigation and flag the areas of question for Customer’s Admin, and if necessary, restores all or specific OneDrive data, recovering business-critical information quickly for Cloud Backup customers.

AvePoint is also launching its Ransomware Warranty for MSPs, which primarily serve small business clients via its global distribution network, to give the ultimate assurance they will be protected. It provides coverage of up to one million dollars if customer data is not recovered due solely to a failure of these eligible products: AvePoint Cloud Backup for Microsoft 365, Dynamics 365, Google Workspace and Salesforce. Detailed terms and conditions apply.

“Ransomware attacks have become one of the top security threats for organizations, especially as increased digital collaboration opens up more vulnerabilities,” said Dr. Tianyi Jiang (TJ), CEO and Co-Founder, AvePoint. “In 2021 alone, ransomware attacks hit companies every 11 seconds, and the average cost to recover is in the millions of dollars. With the launch of Ransomware Detection, AvePoint continues to deliver on our promise of securing digital collaboration for enterprises across the globe.”

New features of AvePoint’s Ransomware Detection, as part of Cloud Backup for Microsoft 365, include:

  • Early event detection: This function uses machine learning algorithms to detect unusual activities, as well as potential ransomware attack events within users’ Microsoft OneDrive. Customers’ admin can also be notified when such events are detected.
  • Quick investigation: Ransomware attacks are a serious security incident. IT and security teams need to perform incident investigations as soon as possible to have a better understanding of the impact to formulate a plan to remediate the risk. Cloud Backup provides top-down reports to help admins quickly drill into the areas of question to nail down to the impacted scopes, which can greatly help shorten the investigation and data restore time.
  • Faster restore from quality backup: AvePoint successfully protects hundreds of petabytes of data across the public and private sector, so when customers restore their data after an incident investigation, they can be confident that it is safe. In addition, Cloud Backup provides easy-to-follow guidance about the time range to restore from, which helps with faster and precise recovery from backup data.

Cloud Backup empowers businesses to defend against ransomware attacks and ensure organizational business continuity. This is largely due to long-term immutable backup data, machine learning based anomaly and ransomware attack detection, and easy-to-follow UI reporting and navigation to help fast and precise recovery.

“Global enterprises rely heavily on OneDrive for collaboration on highly sensitive, mission critical data, and they cannot afford to compromise on security or tolerate downtime,” said John Peluso, Chief Product Officer, AvePoint. “AvePoint’s Ransomware Detection discovers common threats and monitors for mass change events that can indicate suspicious behavior. Our goal is to equip businesses with an easy and reliable way to mitigate the threat of an attack and prevent detrimental data loss.”

The launch comes on the heels of AvePoint’s recent recognition as a leader in the Forrester New Wave SaaS Application Data Protection report. In January, AvePoint expanded its FedRAMP (moderate) Authorization, further highlighting the company’s alignment with the unique security concerns in the U.S. Public Sector, and empowering organizations to adopt a zero-trust security model. By adding Ransomware Detection to its leading Cloud Backup solution, AvePoint is doubling down on a longstanding commitment to security.

For more information on AvePoint’s new Ransomware Detection and Ransomware Warranty, please visit https://www.avepoint.com/products/cloud/backup/ransomware-protection.

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 products and services (such as Ransomware Detection for Cloud Backup), AvePoint’s products that have received FedRAMP (moderate) Authorization, the performance of any such products or services, and AvePoint’s ongoing commitments to the highest standards of data security and privacy. 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