Draper Esprit : continues on investment journey as M-Files raises a milestone $80m round

Draper Esprit is pleased to be participating in the $80 million investment round in portfolio company M-Files. The round was led by Bregal Milestone, a European growth capital firm, with current investors Partech, and Tesi also participating.

The intelligent information management company has been a part of the Draper Esprit portfolio since 2013. We're pleased to have participated in multiple funding rounds supporting M-Files as the company has continued its strong growth. With an eye to the future, we are delighted Bregal Milestone has joined as an investor.

Jonathan Sibilia, Partner, Head of Secondaries and Fund of Funds, commented:

'Many business tools have been redefined in the past few years to enable collaboration and flexibility across organisations. This trend has certainly been accelerated in the recent months as most companies had to quickly adapt to fast-changing environment due to the pandemic crisis and rethink their ECM strategy. The M-Files team is uniquely positioned to drive this change.

We first backed Antti and the M-Files team in 2013 when we led the Series A Round. Since then, we have followed on in each new round. At Draper Esprit, we invest in Europe's best entrepreneurs, people who are capable of building world leading technology companies when provided with patient, long term growth capital, access to global networks and support from an experienced investment team, and the M-Files team is doing exactly that. We are delighted about welcoming the world-class team at Bregal Milestones onboard to help fast-track the M-Files' growth plans.'

Antti Nivala, CEO and Founder of M-Files, commented:

'We are excited to continue our journey with Draper Esprit, who saw the potential in M-Files early on and led our first investment round in 2013. With a lot of growth behind us since then, but even more ahead, we are focused on transforming how knowledge-work companies do business in the digital, work-from-anywhere world.'

About M-Files

Using artificial intelligence (AI) technologies in its unique Intelligent Metadata Layer, M-Files breaks down silos by delivering an in-context experience for accessing and leveraging information that resides in any system and repository, including network folders, SharePoint, file sharing services, ECM systems, CRM, ERP and other business systems and repositories. Thousands of organizations in more than 100 countries use M-Files for managing their business information and processes, including NBC Universal, OMV, Valmet, SAS Institute and thyssenkrupp.

Posted on 12 Jan 2021

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