M-Files Completes Software-as-a-Service (SaaS) Transition With Subscription Revenue Fueling 94 percent of its Annual Recurring Revenue in 2020
M-Files Corporation, the intelligent information management company, today announced that it completed its transition to Software-as-a-Service (SaaS) in 2020, with 94 percent of its annual recurring revenue (ARR) attributed to subscription-based sales.
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.
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“Last year, more enterprises benefited from our innovative licensing options as they increased knowledge worker productivity, enabled business continuity and reduced risk with M-Files solutions,” said Antti Nivala, Founder and CEO at M-Files.”
In 2020, M-Files customers and partners continued to reap the benefits of innovative licensing options that enabled M-Files Online customers to become instantly cloud-ready and able to leverage the cloud in a phased and targeted manner at their discretion.
Over the last year, the company grew its global presence with a focus on North America, bolstered by the relocation of its founder and CEO, Antti Nivala, from Finland to its North American headquarters in Austin. Nearly a third of M-Files employees are now located in the region, with a large number based in Texas, including Austin and the Dallas suburb of Plano.
In his move to Austin, Nivala joins Justin Kim, Chief Financial Officer; Greg Milliken, Senior Vice President of Strategic Alliances; and Mark Petoskey, Vice President of North America Sales. Additional senior executives located in North America include Tom Brigiotta, Chief Revenue Officer; Scott Erickson, Regional Vice President of Rest of World Sales; and Laura Carson, Senior Vice President of Marketing.
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Customers & Partners
M-Files added nearly 1,000 new customers in 2020 across its global footprint, providing solutions for boosting collaboration, ensuring a seamless digital experience, and driving new efficiencies in today’s work-from-anywhere world.
Over the last year, M-Files offered more resources to its network of resellers, service providers, developers and technology partners across its regions, signaling a commitment to strengthening and growing those key relationships. Last year, M-Files increased investments to its customer success and product development organizations, improving customer engagement and introducing new product features. M-Files attained industry-leading gross and net retention rates and saw a more than 20-point increase in its NPS score.
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