May 5, 2016 Venla Väkeväinen
The Finnish company, M-Files, provides enterprise information management solutions (EIM) to improve and simplify how businesses manage documents and other information. In 2015, the company had a turnover of €30,3 million, and their global partner network currently consists of over 450 partners operating in more than 100 countries. The company also employs more than 300 people.
Last March, M-Files announced a €33 million round of Series B funding led by Partech Ventures, with participation from Finnish Industry Investment and Draper Esprit. The negotiations that led to one of the largest investments into an early stage startup in Finland started last November at Slush.
M-Files had prepared thoroughly for the event by defining what they wanted to get out of it. Even though the company enjoyed the high-energy spirit and meeting other interesting startups and people, for them, Slush was above all meant for meeting VCs and investors. “For the investor meetings, we had our pitch ready and polished, including an investment thesis and what we were looking for,” says Miika Mäkitalo, CEO of M-Files. He recommends other founders who are looking for funding to do so as well. Mäkitalo advises startups to have a clear message to convey for what they are doing and what they want in terms of funding and investors.
M-Files met with Partech Venture at the venue meeting area after they had pre-booked a meeting together through the Slush Matchmaking Tool. “We knew Partech Ventures was one of the top-tier VCs in Europe capable of writing checks that were in the right ballpark for us. We suggested a meeting with Partech by using the Slush Matchmaking Tool, as we had a match,” explains Mäkitalo. During the time M-Files was in the process of raising B round funding and meeting investors. “We met Partech for the first time at Slush, and they moved quickly to make sure they were in the process, too. Partech understood M-Files’ value prop and technology right in the first meeting,” continues Mäkitalo. The investment process ended up with Partech investing €33M in M-Files, which marked the beginning of an exciting new joint journey.
M-Files has definitely had a good start for 2016, but how does the rest of the year look for the company? “M-Files continues to experience explosive worldwide growth resulting in a six-year compound growth rate 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 APA,” Mäkitalo explains. Finally, the company will also focus on expanding and strengthening its already impressive global partner network.
The Economist stated in 2011 that games will be the fastest-growing form of mass media over the next decade. In 2017, the numbers of the gaming industry were staggering: 2.2 billion gamers and $121 billion revenue with 10.7 % annual growth rate (CAGR). This year the industry is expected to grow $137.9B in revenues. Games […]
Modern Meadow has been pushing the traditional leather industry to the edge by creating biofabricated materials from growing cells into a new type of material inspired by leather. We had an opportunity to have a chat with Andras Forgacs, the co-founder and CEO of Modern Meadow and get a sneak peek into some topics what he […]
This December, with Atomico and Orrick, Slush will once again publish the annual State of European Tech report. It is the most comprehensive deep-dive into the European ecosystem. Coming out for the fourth time, this year’s report will bring diversity and inclusion into focus, to highlight the importance of the issue at hand. Take the survey […]
One of the Slush core missions now and forever is the advancement of entrepreneurs’ and investors’ abilities to navigate the tech ecosystem and invest with impact. Yesterday, we took yet another leap towards attaining this goal with the release of The State of South Asian Tech (SEA) report in Singapore, yesterday. Like the State of […]
Happeo, a digital workplace platform focusing on smoothening the collaboration between employees of large companies, recently raised $8M for their seed round, having names such as Gapps, Vendep, DN Capital and Maki.vc amongst their investors. We had a chat with Happeo CEO Perttu Ojansuu in order to learn a bit more about the journey behind […]
Slush talks a lot about the different phases of founding a startup. We talk about building, scaling, growing, recruiting, funding and everything in between. All of these things are essential, but to understand the relevance of everything we do, we should also look into the very DNA of what a startup is and where they […]
Helsinki-based Yousician, the world’s leading music education company, has been on an almost decade long journey of learning about gamifying, community building, and of course, learning new instruments. CEO and co-founder Chris Thür has been leading the charge towards the company’s goal of making musicality as common as literacy, and overseen lots of change in […]
Last week, a new era for Slush Global Impact Accelerator kicked off. Slush hosted a workshop for startup hub managers – coming from five different countries – in Botswana. For the past three years, the GIA team has been running the program all the way from Finland. However, now we’ve decided to take off from […]
Day 2 at Slush Tokyo 2018 started with a bang, as IDEO Partner Tom Kelley walked into the Dome to have a Fireside Chat with Slush Tokyo CEO Antti Sonninen. The two discussed Slush and design thinking, and Tom took further questions from the audience during his Q&A session at the Slush Cafe. IDEO Partner […]
Tick-tock... You know what to do.
We collect cookies to make your experience here smoother.