M-Files Exceeds 30 Percent Growth in Annual Recurring Revenue in 2018
Company's Ten-Year Compound Revenue Growth Surpasses 3,000 Percent
DALLAS, Feb. 12, 2019 /PRNewswire-PRWeb/ -- M-Files Corporation, the intelligent information management company, today announced its tenth consecutive year of strong growth, driven by its innovative digital business solutions that help organizations easily find, manage and process documents and information in context from any device.
Continuing the successful expansion of its Software-as-a-Service (SaaS) business model, M-Files grew its annual recurring revenue (ARR) in 2018 by more than 30 percent over 2017. ARR from customers using the company's cloud-based service grew even faster at over 70 percent year over year. Strong performance in 2018 is the latest milestone in the company's sustained track record, resulting in a compound revenue growth rate of more than 3,000 percent over the last ten years.
"2018 was another exciting year for M-Files during which our growth dramatically outpaced the overall market, a clear indication that businesses are readily embracing our unique intelligent information management approach," said Miika Mäkitalo, CEO at M-Files Corporation. "Along with the release of M-Files Online, a compelling new SaaS solution, our rapidly growing partner network and widening global footprint were crucial to our success."
Exponential Customer and Partner Growth
M-Files added over 1,000 new customers in 2018, bringing the total number of customers using the platform to more than 9,000 worldwide, including global enterprises in manufacturing, professional services, construction, financial services, life sciences, energy, real estate, healthcare and more. In addition, the number of customers using the company's cloud service increased by more than 75 percent in 2018.
M-Files also extended its global partner network with the addition of major brands, such as Konica Minolta, Ricoh, Iron Mountain and Kyocera, among others, adding to the growing list of hundreds of partners around the world with specialized expertise in key use cases, vertical industries and systems integration.
M-Files Online Extends Leadership in Intelligent Information Management
The company also launched M-Files Online, the only truly hybrid intelligent information management platform that allows customers to implement both cloud and on-premises solutions without having to separately purchase licenses for each. New artificial intelligence capabilities were also introduced to automate document handling and related processes, such as automatic tagging and classification.
Building upon the Intelligent Metadata Layer introduced in 2017, M-Files also launched ten new connectors, including SharePoint, OneDrive for Business, OpenText Content Server, IBM FileNet P8, Documentum, Amazon S3 and Microsoft SQL Server.
Global Investment and Recognition
In 2018, M-Files raised 27 million euros from the European Investment Bank (EIB), one of the EIB's largest IT sector investments to date, to further fuel technology development and international expansion.
The company was also recognized for its visionary approach to information management, including being named a Visionary in the Gartner 2018 Magic Quadrant for Content Services Platforms (CSP), the Leader in the Nucleus Research ECM Technology Value Matrix, and the Best Document Management Software/System for Law Firms by Inc. Magazine. Moreover, M-Files was honored with the prestigious Internationalization Award by the President of the Republic of Finland for its global success, innovative intelligent information management solutions and positive impact on the Finnish economy.
For more information, visit http://www.m-files.com.
About M-Files Corporation
M-Files provides a next-generation intelligent information management platform that improves business performance by helping people find and use information more effectively. Unlike traditional enterprise content management (ECM) systems or content services platforms, M-Files unifies systems, data and content across the organization without disturbing existing systems and processes or requiring data migration. Using artificial intelligence (AI) technologies in its unique Intelligent Metadata Layer, M-Files breaks down silos by delivering an in-context experience for accessing and leveraging information that resides in any system and repository, including network folders, SharePoint, file sharing services, ECM systems, CRM, ERP and other business systems and repositories. Thousands of organizations in more than 100 countries use M-Files for managing their business information and processes, including NBC Universal, OMV, Rovio, SAS Institute and thyssenkrupp. For more information, visit http://www.m-files.com.
SOURCE M-Files, Inc.
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