Information management platform startup M-Files raises $80M
Information management platform startup M-Files Inc. revealed today that it has raised $80 million in new funding in a round led by Bregal Milestone and including Partech, Tesi and Draper Esprit.
Founded in 2001, M-Files offers a next-generation intelligent information management platform that is designed to assist businesses to find and use information more effectively. Using an intelligent, repository neutral platform that uses metadata and artificial intelligence, M-File’s offering is said to break down information silos and unify systems, data and content across an organization.
Designed to be platform- and device-independent, M-Files can be installed in the cloud, on-premises or as a hybrid solution with one common user interface regardless of the device being used. M-Files allows users to continue working with their existing systems, using the user interface of those applications to access and manage information for maximum efficiency and control.
Specific product offerings include M-Files for Teams that offers collaboration with information management, M-Files for SharePoint Online, for Salesforce CRM and for Google G Suite.
The company has more than 500 employees across 11 global officers servicing thousands of customers in more than 100 countries. Notable clients include Comcast Corp., Rovio Entertainment Oyj, Hill+Knowlton Strategies, Orifarm Group A/S, United Nations Environment Program, SAS Institute Inc. and Yokohama Tire Corp.
In an interview with Sifted, Antti Nivala, founder and chief executive officer of M-Files, noted that the COVID-19 pandemic has increased the company’s user base and he anticipates that continuing.
“I think the pandemic has shifted M-Files from a tool that’s nice to have to a tool that’s necessary,” Nivala said. “2020 was a year of significant growth for us because the system helps people to work together from anywhere, remotely.”
According to Pitchbook, M-Files has raised $125.3 million to date, including the new funding.
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