According to the Finnish Venture Capital Association, it is one of the largest investments ever in a Finnish growth company in the early phase of growth.
The principal investor is French company Partech Ventures, which focuses on rapidly growing digital and ICT firms. The other investors include the Finnish Industry Investment and British Draper Esprit.
M-Files has experienced tremendous growth in recent years – nearly 1 000 per cent over the past six years.
With this financing, the company intends to boost its growth and globalise its operations with investments in sales and marketing. The company is opening up new offices in Europe, Asia and North America.
M-Files develops smart enterprise information management solutions that are used to manage information based on content. Partech Ventures’ General Partner Bruno Crémel believes that M-Files’ technological vision will revolutionise the information management software market.
M-Files has a total of 6 000 customers in more than 100 countries. In 2015, the company had a turnover of 30.3 million euros, and it currently has more than 300 employees. In addition to Finland, M-Files has operations in the US, the UK and Sweden.