M-Files Achieves Record Growth and Market Momentum in 2022
Global Information Management Leader Maintains SMB Market Share and Experiences Continued Momentum in Enterprise Sales Growth
AUSTIN, Texas – March 21, 2023 – M-Files, a global leader in information management, today announced that the company achieved 33 percent year-over-year (YOY) growth in subscription revenue and 40 percent growth in new customer sales in 2022. M-Files continued to dominate the small and medium-sized business (SMB) market and drive value into the enterprise market with an average new customer deal size that grew 60 percent YOY. In 2022, M-Files boosted sales in Western Europe by 59 percent, grew bookings for Professional Services industry customers by 30 percent, and gained 100 new clients for its external collaboration solution, M-Files Hubshare, reaching new milestones in key growth metrics.
M-Files’ partner ecosystem includes Strategic Alliances, Global Systems Integrators (GSIs), and Premier and Authorized Partners, which are a critical component of its go-to-market strategy. To support its fast-growing partner program, in 2022 M-Files also increased the number of certified delivery partners by 84 percent, certified solution engineers by 79 percent, certified developers by 90 percent, and certified solution architects by 56 percent. With its heightened investment in partner enablement, the company will host a global partner conference in May 2023 and has launched a new podcast series designed to help partners implement customer success programs within their own organizations.
“2022 was a record-setting year for M-Files where we reached the highest ever ARR growth in Western Europe, secured our largest customer win in the Professional Services industry, and attained the most new customers ever,” said Antti Nivala, founder and CEO, M-Files. “These achievements are a testament to our ability to deliver high-impact solutions that position us as a strategic partner for information management challenges. We look forward to continuing to serve knowledge workers by providing innovative platform enhancements that deliver superior customer experiences and drive higher-quality work with lower risk.”
Microsoft Partnership
In 2022, to amplify its strong partnership with Microsoft, M-Files announced new M-Files subscription offerings in the Microsoft Azure Marketplace. Customers can now order M-Files subscriptions directly via the Azure Marketplace and tie their M-Files subscription to their Microsoft Azure Consumption Commitment (MACC). With its deep integration with Microsoft tools, M-Files helps organizations optimize investments in Microsoft 365 by providing extended capabilities for business processes and information governance. M-Files makes Microsoft 365 the single point of access for all enterprise data, allowing enterprises to find, access, and manage all connected data, regardless of its storage repository, through Microsoft 365 user interfaces. Joint M-Files and Microsoft Azure cloud customers include Wärtsilä, OMV, Crowe, and VDA. In Q2 2023, M-Files will introduce additional product launches complementing the Microsoft offering.
Commitment to Innovating the M-Files Document Management Platform and Offerings
M-Files continued to advance its platform in 2022 to provide further improvements in mobility and accessibility, content collaboration, enhanced decision-making, and most importantly, a superior user experience with better information layering, improved navigation and heightened readability.
M-Files’ product innovations and proprietary AI capabilities were also recognized in awards programs, with the company being included in the 2022 KMWorld AI 50 list, named a winner in the Business Intelligence Group’s Artificial Intelligence Excellence Awards, and M-Files’ intelligence service, Smart Migration, being named a finalist in the 2022 CRN Tech Innovator Awards.
Additionally, the company recently expanded its offering with next-generation no-code document automation capabilities through its acquisition of Ment in February 2023, enabling legal professionals to generate complex data-driven documents more quickly and consistently. Law firms and in-house legal departments are benefiting from M-Files Ment:
“The automation of the standard contractual clause (SCC) modules has greatly contributed to enhanced contractual compliance and generated time savings for lawyers as they support their most critical cases. M-Files Ment empowers our end users to feel secure in creating and signing these new agreements in a self-service manner,” said Niina Koponen, head of legal partner care, Tietoevry.
Continued Recognition as an Industry Leader Across Analyst and Award Organizations
M-Files’ innovations have been praised across the analyst community, with M-Files recently being recognized as a Gartner Peer Insights Customers Choice for Content Services Platforms, with 100% of Gartner Peer Insights respondents recommending M-Files as a CSP over the past 12 months, as of March 6, 2023. In addition, M-Files was recognized by TrustRadius with a 2022 Best Feature Set and a 2022 Best Relationship Award in document management.
M-Files’ accolades span beyond the analyst community. M-Files was honored as a Grand Trophy Winner in the 2nd Annual Globee® Disruptor Company Awards, a Gold Globee® Winner in the Information Technology Cloud/SaaS category in the 2022 Golden Bridge Business and Innovation Awards, a silver winner in the Company of the Year – B-to-B category of the Best in Biz Awards 2022, and a Bronze Stevie® Award winner in the Most Innovative Tech Company of the Year (Up to 2,500 Employees) category of the American Business Awards®. Business Intelligence Group’s BIG Awards for Business also named M-Files as a winner in the Company of the Year category and M-Files’ founder and CEO, Antti Nivala, a winner in the Executive of the Year category for the second consecutive year.
Customers are sharing the benefits of the M-Files platform to optimize document management and improve how they do business in the digital, work-from-anywhere world.
Wealth management firm Bridges Trust realized a 90 percent reduction in document search time: “In my experience having to search the older system, it could take 10 to 20 minutes to find a single document (especially if you’ve had to search within documents for the specific information). So, being able to reduce that time from 10 to 20 minutes to one or two minutes max…is a huge win on our side,” said Alex Siefert, applications manager, Bridges Trust.
About M-Files
M-Files is a global leader in information management. The M-Files metadata-driven document management platform enables knowledge workers to instantly find the right information in any context, automate business processes, and enforce information control. This provides businesses with a competitive advantage and substantial ROI as they deliver better customer experiences and higher-quality work with lower risk. For more information, visit www.m-files.com.
