M-Files raises  $36M

What does M-Files do?

M-Files, is a provider of solutions which leverage unique new metadata based approach for dramatically improving how businesses manage documents and other info. The company provides document management solutions for helping business in organizing, managing and tracking documents and business processes. It is easy to use as the users do not have to change the way they work. Documents are stored in a centralized vault similar to the way they are stored on any other hard drive on the user’s network or system, but instead of searching through confusing folder structures, one just saves it in the vault and tags it. Its interface is Windows Explorer so the vault is accessed similar to the my documents or my computer. All Windows apps are supported using standard Save commands or File open with which the users are quite familiar, therefore user adoption is increased with very little or no training at all.

How much M-Files was funded?

The company raised €33M in Series B on March 17, 2016 from Draper Esprit, Finnish Industry Investment, British Draper Esprit and  Partech Ventures.

Previous funding

€6M in Series A on April 30, 2013 from Finnish Industry Investment and Draper Esprit.

What is next for M-Files?

The company continues to experience huge global growth resulting in a 6 year compound growth rate of nearly 1,000%. This new investment will help the company in further increasing its existent sales and marketing activities and for its expansion into new markets in EMEA, North America and APAC. The company is also going to focus on the expansion and strengthening of its global partner network, which currently consists of more than 450 partners operating in over 100 countries.

More about M-Files

M-Files was founded in 2001 by Antti Nivala. It has its headquarters in Dallas, Texas. Common applications and industries which use this company today are life sciences, pharmaceuticals, accounting, legal, financial, manufacturing and health care.