Tampere, United States
M-Files is a Finland-founded, Austin-headquartered information management and document management platform serving knowledge workers across professional services, accounting, tax advisory, and engineering firms. Founded by Antti Nivala in 2002, the company grew from near-zero revenue to $90 million in annual recurring revenue by late 2022, reaching that figure without burning significant cash and while sustaining 25 to 30 percent annual growth for several consecutive years. The company operates a hybrid go-to-market model combining a direct enterprise sales force of more than 50 quota-carrying representatives with a value-added reseller network that accounts for roughly 80 percent of its 5,000-plus customers but only about one-third of total revenue. Average contract value sits at approximately $50,000 per year for direct enterprise accounts, while reseller-sourced deals typically start around $5,000 annually. Several customers pay more than $1 million per year. M-Files raised a Series C of approximately 67 million euros (roughly $80 million USD) in January 2021, of which $30 million was used for secondary purchases providing liquidity to early investors and former co-founders. The company was bootstrapped through its early years on revenue from a prior product before raising a Series A of 6 million euros in 2013 at $9 million in ARR. With 600 employees and a 150-person engineering team, M-Files was targeting $100 million in ARR as its next milestone heading into 2023.
- Revenue
- $130M
- Customers
- 5K
- Year founded
- 1987
- Funding
- $163.5M
- Team size
- 649
- Growth
- -
