M-Files Corporation, a provider of solutions that leverage a unique new approach based on metadata to "significantly" improve how companies manage documents and other information, announced a series B financing round led by Partech International $ 36 million, with the participation of Finnish Industry Investment and Draper Spirit.
with flexible onsite, cloud and hybrid deployment options, M-Files would place the power of enterprise information management (EIM) in the hands of "business users and reduce IT requirements by allowing the closest access business and control content based on their requirements.
M-Files continues to experience explosive global growth resulting in a compound growth rate of six years of nearly 1,000 percent. The new investment will further accelerate existing sales and marketing activities, as well as expansion into new markets in North America, EMEA and APAC. The company will also focus on expanding and strengthening its global partner network, which currently consists of more than 450 partners operating in more than 100 countries.
"Partech Ventures have invested in M-Files, not only because of their history proved successful, proven leadership and a huge market potential, but also because we saw a unique vision for a new generation solutions beyond traditional document management and enterprise content management (ECM) that has the potential to transform the market, "said Bruno Crémel, General Partner at Partech International .
CRM, ERP and HR
While other systems to manage information based on antiquated folder structures with M -Files, the content is not tied to a specific location, but is intuitively categorized and managed on the basis of "what" it is against where it is stored . This approach would also allow organizations to integrate easily and directly the basic management systems such as CRM, ERP and HR, with documents and other unstructured content.
The M-Files approach relies on a single metadata-based architecture enable users to quickly find and access information according to its relevance, regardless of the system or a repository where it is stored. This patent-pending technology also forms the basis of a revolutionary new repository agnostic solution that creates a "layer of intelligent metadata" which superimposes and unifies existing data repositories and database management systems including Documentum, OpenText, SharePoint, Box, Salesforce, SAP and others.
The new solution also uses search technology, auto-classification and machine learning "state-of-the-art" which would allow companies to intelligently manage information based on its value, without migration or duplication, and without disturbing other business applications and processes.
"We are delighted to work with world-class team to partech ventures to accelerate our growth plans supported," said Miika Mäkitalo, CEO of M -Files Corporation . " We succeed by helping customers in a variety of industries with key business processes related to accounting, human resources and quality management, with solutions that are simple, secure and scalable. This funding will allow us to build on this success and further develop our world-class professional services organization, and develop local teams in the UK, continental Europe and APAC to better support our customers and partners. "
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