The Finnish enterprise content management platform M-Files, which places an unusual amount on emphasis on metadata, has closed a €6 million ($7.85 million) Series A round led by DFJ Esprit and also took in cash from the Finnish government.
M-Files does away with traditional folder structures, relying entirely on metadata to help people find documents (think iPhone rather than Windows), and it works across cloud, on-premise and hybrid installations. The service has been around for a good 8 years and has picked up some very serious customers indeed, ranging from AstraZeneca and Pandora to Northrop Grumman and the UN Environment Program.
“Everyone says that metadata is important, but quite often it’s something users have to add when they are storing documents,” CEO Miika Mäkitalo told me on Tuesday.
“Our M-Files system is a metadata architecture, which gives excellent benefits for end users … You can [organize] documents by customer name, project, proposal date and so on, and if you choose to find a document you will always find the latest version – they might be different paths but they all lead to the same document.”
The fresh cash infusion will be used to push M-Files further into the U.S. in particular, Mäkitalo said: “We want to continue growing aggressively. We want our channel sales function to skyrocket in the coming years.” He added that, although the U.S. and Finland account for most of M-Files’s existing customers (of which there are thousands), there are many elsewhere in Europe and in Asia, too.