New majority owners for M-Files Corporation
M-Files Corporation (“M-Files”), the leader in knowledge work automation, today announced it has entered into a definitive agreement for a majority recapitalization investment led by Haveli Investments, an Austin, TX based technology-focused private equity firm, and Bregal Milestone, a European software private equity firm. Founder & CEO Antti Nivala continues as a significant minority shareholder together with the company’s leadership team and employees.
The M-Files knowledge work automation platform harnesses the power of generative artificial intelligence (GenAI) and automation to boost the performance of knowledge workers. M-Files automates the entire process, from document creation and management to workflow automation, external collaboration, enterprise search, security, compliance, and audit trails. With its metadata foundation, M-Files drives a superior AI experience with connectivity, confidentiality, and curation capabilities.
“As an investor, it has been great to follow the growth story of M-Files for more than ten years. M-Files is a prime example of how to grow a Finnish high-technology, entrepreneur-led company into a world-class business. We are also happy that this ownership arrangement gives the company even better conditions to grow the business in the important North American market and at the same time secure continuity as an independent company, where Finnish ownership is maintained via the founders and personnel,” says Juha Lehtola, the Director of Tesi’s Venture Capital team.
“Tesi’s participation with a significant investment in M-Files’ first financing round in 2013 was very important and enabled the financing round to take place. Since then, Tesi has supported the growth of M-Files through board work and has brought stability to the ownership base. From M-Files’ point of view, Tesi’s investment in the company has achieved all of its goals,” continues M-Files founder and CEO Antti Nivala.
Tesi (Finnish Industry Investment) has been the only Finnish institutional investor in M-Files since the company’s first financing round in 2013. During Tesi’s ownership, the company has succeeded in acquiring more growth capital several times, its turnover has increased more than tenfold, and operations have turned profitable. Tesi owns ca. 10% of the company’s equity and the exit is the largest in its history in terms of euros.
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For further information, please contact:
Juha Lehtola, Tesi, Director, Venture Capital Investments, +358 400 64 7671, juha.lehtola@tesi.fi
Antti Nivala, M-Files, Founder and CEO, +1 737 231 5681 & +358 40 556 0471, antti.nivala@m-files.com
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter