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.
“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.
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.