M-Files Exceeds 30 Percent Growth in Annual Recurring Revenue in 2021
Global Information Management Leader Reaches New Milestones in Product Innovation, Partner Program Growth and Worldwide Employee Hires
M-Files Corporation, the intelligent information management company, announced the company grew its annual recurring revenue (ARR) in 2021 by more than 30 percent. Advancements in customer success programs helped boost customer satisfaction and raise net revenue retention to over 120 percent in 2021. The company also increased bookings in the Professional Services industry by 41 percent.
“Our accelerated growth in 2021 is proof that more organizations are readily embracing our unique, metadata-driven approach to information management to gain a leading edge in their digital transformation journeys,” said Antti Nivala, founder and CEO, M-Files. “We increased our employee headcount by a record-breaking 20 percent in 2021, enabling us to better serve knowledge workers’ needs and provide innovative platform enhancements that deliver superior customer experiences and higher-quality work with lower risk.”
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“We increased our employee headcount by a record-breaking 20 percent in 2021, enabling us to better serve knowledge workers’ needs and provide innovative platform enhancements that deliver superior customer experiences and higher-quality work with lower risk.”
Continued Innovation for the M-Files Document Management Platform
An early 2021 growth investment of $80 million (€67 million) led by Bregal Milestone, a European growth capital firm, helped drive new innovations to the M-Files metadata-driven document management platform. In 2021, M-Files released 34 feature updates. New capabilities to enable a more efficient way to work amidst the shift to today’s remote and hybrid workplace reality included:
- A modern, simplified user interface that makes use and adoption faster, easier and more intuitive with M-Files Web.
- External content sharing and collaboration capabilities with the company’s acquisition of Hubshare in April, delivering an improved digital client experience.
- M-Files Smart Migration, an intelligence service which combines M-Files’ leading information management expertise with metadata-driven automation to help customers migrate information into the M-Files platform more intelligently and cost-effectively.
- Extended cloud monitoring capabilities to improve product quality and increase customer satisfaction.
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Companies Partner with M-Files on the Heels of Record-Breaking Global Channel Sales Growth
In 2021, M-Files grew its partner program, achieving over 30 percent year-over-year growth in global channel sales ARR bookings. As partners heightened their proficiencies with the M-Files platform, the average partner-led new deal size increased by nearly 20 percent and cloud deployments grew five times faster than on-premises deployments.
In 2021, M-Files nearly doubled the number of Customer Success Managers across the globe to support the critical regions of North America, Europe, and Asia-Pacific. The company also introduced new partner enablement, certification, and support processes to improve delivery capabilities. New certifications unveiled in April 2021 were made available to value added resellers (VARs), System Integrators (SIs) and services subcontractors across the globe. Since April, a record number of partners attained these key accreditations to showcase their competencies in delivering M-Files solutions. M-Files now boasts 190 Certified Solution Engineers, 29 Certified Developers and 25 Certified Architects among its partner organizations. In addition, M-Files now has 56 Certified Delivery Partners that have demonstrated exemplary proficiency in delivering high quality M-Files solutions to customers.
