Strong cloud adoption accelerated M-Files’ subscription-based annual recurring revenue (ARR) in 2019 by more than 100% over 2018. The company’s primary SaaS solution, M-Files Online, is a hybrid intelligent information management platform that allows customers to implement both cloud and on-premises solutions without having to separately purchase licenses for each.
M-Files added nearly 1,300 new customers in 2019 across its global footprint, including enterprises in professional services, manufacturing, financial services, and energy, among other industries. The company also strengthened its global network of partners around the world with specialised expertise in key use cases, vertical industries and systems integration. A technology partnership with Konica Minolta drove successful projects across 14 European countries, which inspired an expanded alliance in 2020 to bring intelligent information management to the entire European market.
“As we accelerated our transition to a SaaS and cloud-based business model in 2019, customers and partners reaped the benefits of our innovative licensing options that enable M-Files Online customers to become instantly cloud-ready and able to leverage the cloud in a phased and targeted manner as they see fit,” said CEO Antti Nivala.