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Sunday, May 22, 2022

Tampere Based M-Files Gets €6 Million To Globally Expand Their Metadata Driven Enterprise ECM

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M-Files is a company that is disrupting the Enterprise Content Management (ECM) field by getting rid of the standard folder structure and introducing an enterprise-wide document management system that is based on metadata. Basically their solution does not care where the data is but rather what the data actually represents.

According to the CEO, Miika Mäkitalo “one way to understand the M-Files metadata-powered approach is to look at the iPhone. When you put music on the iPhone, you don’t put it in a music folder, the device just knows it is music and it shows up where and how you expect it, grouped by artist, genre, date, etc. This is what M-Files does for information management, and when companies experience it, the effect is a revolutionary change in their business. Think Enterprise Document Management 2.0, or the combined power of Dropbox AND Documentum but for enterprise-scale businesses.”

On the 30th of April, the company announced an A-Round of €6 million led by DFJ Esprit, a venture capital firm that invests from seed to late stage in European technology and media companies. In addition to DFJ Espirit, the investment round also included the Finnish Industry Investment, a government owned investment company. The new capital will be used to accelerate US Market expansion plans as well as sales and marketing.

M-Files metadata structures allows for document management, quality management, enterprise asset management, contract lifecycle management and more. The company already has an impressive list of customers such as: AstraZeneca, SAS, Pandora, United Nations Environment Program (UNEP), Northrop Grumman Corporation, Charles Schwab, Hecla Mining, Elekta, Hill + Knowlton and others

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