Tampere, Finland-based M-Files has raised 6 million euros (about $7.8 million) in funding to boost the development of its cloud-based and on-premise document and enterprise content management solutions.
The Series A round was led by DFJ Esprit, with participation from Finnish Industry Investment, and the proceeds will serve to take M-Files’ solutions global.
M-Files’ technology is centered around a metadata-based and thus folder-less approach, enabling companies to manage their information based on what it is rather than where it is stored.
The company posits that its solutions sits somewhere between ‘lightweight’ file sharing tools such as Dropbox and feature-rich but expensive and bloated systems like EMC’s Documentum.
Its list of customers include big US firms like AstraZeneca, SAS, Pandora, Charles Schwab, Hill + Knowlton and others.
As part of the funding, M-Files also announced that technology industry vets Jim Geary and Bob Suh, as well as Mikko Suonenlahti of DFJ Esprit, have joined the company’s board of directors.
Image credit: Thinkstock
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