A US-based specialist in enterprise information management solutions (EIM), M-Files Corporation has announced it has secured $36m round of Series B funding led by Partech Ventures along with the Finnish Industry Investment and Draper Esprit.
Capital earmarked for accelerating existing sales and marketing operations will also help expand the company into new markets in North America, the EMEA and APAC regions as well as strengthen its global partner network which currently includes 450 organisations in over 100 countries.
“We are very excited about working with the world-class team at Partech Ventures to accelerate our plans for sustained growth. We’re succeeding by helping customers in a variety of industries with key business processes related to accounting, HR and quality management, with solutions that are simple, secure and scalable. This funding will enable us to build on that success, as well as further develop our world-class professional services organisation, and expand local teams in the UK, continental Europe and APAC to better support our customers and partners,” says Jim Geary, executive chairman of M-Files Corporation.
“Partech Ventures invested in M-Files not only because of their demonstrated track record of success, proven leadership and enormous market potential, but also because we saw a unique vision for a new generation of solution beyond traditional document management and enterprise content management (ECM) that has the potential to transform the market,” says Bruno Cremel, General Partner at Partech.
Partech, which is based in France, specialises in international investments across the high-growth digital and ICT companies with three types of fundings: seed capital, venture capital and growth capital.
M-Files delivers systems that manage information in which the content is not tied to a specific location and rather classified and managed based on ‘what’ versus ‘where’ it’s stored which also helps quickly access the information based on its relevance, the company says.