Austin, TX — August 13, 2024 — 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. This transaction is expected to close in Q4 2024.

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.

“We are committed to delivering an innovative knowledge work automation solution for our customers globally, and we are thrilled to partner with these experienced enterprise software investment organizations to accelerate growth and invest in product innovation,” said Antti Nivala, Founder & CEO of M-Files. “We are grateful for the partnership from Partech, Tesi and Molten Ventures and look forward to collaborating with the strong investment and operating teams at Haveli Investments and Bregal Milestone in the next phase of our growth. We aim to expand the reach and impact of our next-generation content management platform that provides advanced collaboration and productivity capabilities for our customers.”

“We are excited to partner with the founder and the entire leadership team at M-Files to capitalize on the significant growth opportunities that lie ahead,” said Sumit Pande, Senior Managing Director at Haveli Investments. “The innovative knowledge graph based platform of M-Files is uniquely positioned for continued success in a large and growing market, with significant opportunities to drive global expansion and product innovation, including acceleration of artificial intelligence solutions.”

“Under Antti and his leadership team, M-Files has a proven track record in generating profitable growth at a global scale”, said Ian Kwok, Managing Director at Bregal Milestone. “Over recent years, we have witnessed M-Files grow into a market leader and use industry-leading GenAI to revolutionize the way knowledge work is automated. We are thrilled to be partnering and investing alongside Haveli Investments to take M-Files to the next level and build the GenAI leader.”

Advisors
William Blair is serving as the financial advisor to M-Files Corporation. Borenius Attorneys is serving as legal advisor to M-Files Corporation. Evercore is serving as financial advisor for Haveli Investments and Bregal Milestone. Simpson Thacher & Bartlett LLP and Hannes Snellman Attorneys Ltd are serving as legal advisors to Haveli Investments. White & Case LLP is serving as legal advisor to Bregal Milestone.

About M-Files Corporation
M-Files is the leading platform for knowledge work automation. With the M-Files platform, knowledge workers can find information faster, work smarter, and achieve more. M-Files features an innovative metadata-driven architecture, embedded workflow engine, and advanced artificial intelligence. This enables customers to eliminate information chaos, improve process efficiency, and automate security and compliance. For more information, visit www.m-files.com.

About Haveli Investments
Haveli Investments is an Austin-based private equity firm that seeks to invest in the highest quality companies in the technology sector through control, minority or structured equity and debt investments with a focus on software, data, gaming, and adjacent industries. The firm seeks to partner with innovative companies, entrepreneurs, and management teams throughout a company’s life cycle. Haveli’s experienced team of investors and diverse industry experts will provide operational and strategic support, enabling portfolio companies to focus on driving innovation and increasing growth, scale, and operating margins. Underscoring Haveli’s investments is an unwavering focus on DEI and sustainability. For more information, please visit www.haveliinvestments.com, or follow Haveli on LinkedIn, @Haveli Investments.

About Bregal Milestone
Bregal Milestone is a leading European software private equity firm with c.€1.3 billion of committed capital. The firm provides growth capital and operational support to build market-leading software companies. Bregal Milestone is part of Bregal Investments, a leading global investment platform with assets under management of over €18 billion. Bregal Milestone was recognized by GrowthCap as one of the Top Growth Equity Firms of 2023. For more information, visit www.bregalmilestone.com or follow us on LinkedIn.

Media Inquiries

For M-Files Corporation:
Debra Dekelbaum, M-Files
[email protected]
+1 (972) 516-4210, ext. 272

Kelly Mitchell, fama PR
[email protected]

For Haveli Investments:
Investors:
Caroline Bal Doherty
SVP of Capital Partnerships
[email protected]

Media:
Hugh Burns/Pamela Greene
Reevemark
(212) 433-4600
[email protected]

For Bregal Milestone:
Jillian Hazelton
Head of Marketing & Communications
[email protected]